Answers to Your Debt Limit and Default Questions

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  • 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
  • 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. Could President Obama Ignore the Debt Limit?

A. The 14th Amendment to the Constitution says, "The validity of the public debt of the United States, authorized by law ... shall not be questioned." However, the White House has said its own lawyers don't think he has the authority to do so. Nor is it clear that many investors would buy bonds issued without congressional approval.

(Photo: Mark Wilson/Getty Images)

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