It means we get to spend another 70 billion a year in additional interest payments on the debt as our cost to borrow will increase by about 1/2% because of the lower rating on our US treasury bonds. I am waiting to see how Obama spins this additional spending on our debt service as a jobs creator.
What it means is also we have an inflation spiral starting. Since the government is going to be the sole one getting the money, the higher the prices.
ANd,, furthermore, the higher the prices, the lesser the future return as time goes by, and, thus, the higher the prices will be set. So, that means martial law and government tickets enforced at the tip of the government bayonet, killing us all? Hmmm
Wow, fantastic, just fantastic.