On May 16, 2011 the U.S. reached its debt limit of $14.3 trillion. With the subsequent possibility that the U.S. will be unable to issue further debt, and may even undergo a technical default, there has been a lot of discussion, and hype about raising the debt ceiling. You may be hearing mixed messages about the debt ceiling and the impact of default. Here are answers to some questions you may have about the debt limit.[i]
What is the Debt Limit?
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