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, Â 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.Â [We must save] for the future..if we hope to counteract some of the negatives on the horizon.