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Impact of U.S. credit downgrade on your money

One of three major credit firms has downgraded the U.S.' credit rating from AAA to AA+. "The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management," Fitch Ratings said in a statement explaining the decision. Javier David, Axios managing editor for business and markets, joined CBS News to discuss the significance of the downgrade and what it could mean for Americans' finances.

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Face The Nation: Hutchinson, Kashkari, Nirenberg

Missed the second half of the show? The latest on…former Arkansas Gov. Asa Hutchinson, who is seeking the Republican nomination for president, discussed a proposed mental acuity test for politicians over 75, Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, discussed the bright spots on the economic front from last week, and San Antonio Mayor Ron Nirenberg discussed the ongoing heat wave has put much of the Southeastern U.S. under dangerous heat alerts.

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