Downgrades, Debt Crises and Double Dips

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The world is watching for the impact of history's first downgrading of the credit rating of the United States. How important is it? How worried should Americans be? Also, tomorrow's recall elections in Wisconsin. Can Republicans hold on?

Banner image: Traders work on the floor of the New York Stock Exchange at the opening bell August 8, 2011. Photo by Stan Honda/AFP/Getty Images