Answers to Your Debt Limit and Default Questions

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  • Debt Ceiling Dilemma
  • Q. What is the Debt Ceiling?
  • Q. How Close Is the Nation to the Limit?
  • Q. What Will Happen After Oct. 17?
  • Q. When the Government Runs Out of Cash Will It Default?
  • Q. Couldn’t the Government Simply Print More Money?
  • Q. If They Can’t Print More Money, What Else Could Treasury Do?
  • Q. Would Delaying Payments Avoid a Default?
  • Q. Could President Obama Ignore the Debt Limit?
  • Q. What do Global Investors Thinking, Are they Panicking?
  • Q. What Would Be the Economic Impact?
  • Q. Is the Debacle About an Out-Of-Control Budget Deficit?
  • Q. Why is it Potentially Catastrophic for the Government to Default?

Debt Ceiling Dilemma

With the debt ceiling countdown nearing closer to the Oct. 17 deadline, the nation wonders if Congress will come to an agreement to raise the limit on federal borrowing soon. If the deadline is not reached, then America could, for the first time in history, default on legal obligations. Associated Press and BET.com answers questions the nation wants to know about the possible financial crisis. Associated Press and Dominique Zonyéé 

(J. Scott Applewhite/AP Photo)

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