Save for the future: Although Paul Williams, president of the New York State Dormitory Authority, one of the nation’s leading public finance and construction management agencies, “90% confident the US will not technically default. However, it appears more likely that we will be victimized by a ratings downgrade.” His take: “I think all of the elected [officials] in Washington, from the president down, should be monumentally ashamed for being part of a ratings downgrade for the US. This will trickle down to consumers in a number of ways, from higher credit card and car loan interest,  to even lower housing prices as mortgage rates tick up. Also, values in 401ks and other savings products may take a nose dive as US credits face lower ratings [including muni bonds]. With this recent report indicating Black wealth at only one-twentieth of White wealth per household due to the impact of the last recession, this will be a double whammy at the most vulnerable time for Black families. I am afraid that these numbers tell a frightening story for the future. Black ownership will be limited and reduced, which will have the effect of marginalizing us in the economy. I have stressed to my kids the importance of savings, even from the first dollar earned. [We must save] for the future..if we hope to counteract some of the negatives on the horizon.