How the U.S. credit rating downgrade could impact your finances

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.