What Happens If Congress Fails to Raise the Debt Ceiling?

According  to the Washington Post, the White House is warning that catastrophe will strike if Congress fails to raise the limit on the national debt: The Government has  too little cash to pay creditors, thus the U.S. government would default.

Obama’s Budget and Deficit Plan – and Our Decision Time

The president’s speech, April 13th, on his deficit plan relieved many who had not yet recovered from the ugly compromises Democrats were compelled to make to avoid a government shutdown.

Students and Faculty Occupy a Building in Protest at California State University East Bay

HAYWARD, CA 4/13/11 --  Students and faculty at California State University, East Bay, marched to the administration building on the campus and then occupied the building in protest.  Organized by Students for a Quality Education and the California Faculty Association, the civil disobedience protested budget cuts and fee increases for students, and cutbacks on staff and benefits, while administrators' salaries are increased.