|The continuing resolution (CR) to allow the government to function beyond the end of the fiscal year Sept. 30 is likely the last legislation lawmakers will send to the president before breaking for the campaign’s home stretch. The resolution is needed to avoid a government shutdown, because Congress hasn’t cleared any of the dozen appropriations bills for fiscal 2011.|
Here we go again. Just like 1995 when the GOP shut down the government under the "leadership" of Newt Gingrich, they are threatening to do it again.
The U.S. can't default because it is a currency issuing nation and its debts are denominated in its own currency. Under those criteria it can't default. However, if it voluntarily decides to stop paying its debts because these Republican crazies shut down the government, then yes, that's a default.