Christian Science Monitor | USA: Debt ceiling 101: 12 questions about what's going on

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Debt ceiling 101: 12 questions about what's going on Oct 9th 2013, 00:43 The US Treasury has warned that as early as Oct. 17 it will no longer be able to cover all the government's rising financial obligations. If the government wants to keep paying all its bills, Congress must allow the Treasury to borrow more money – in other words, raise its debt limit. Therein lies the rub. Many Republicans are uneasy with America's fiscal path and want to use this moment to address it (as well as other issues). Most Democrats say a debt ceiling deadline is too important to hold "hostage" to political horse-trading. We say it's a complicated topic that could use a little explanation. Here's your guide to the debt limit deadline and its implications.

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