cruise control light on and check engine light this is first time ever today on 2006 Subaru Outback

is this my timing belt if so how much time do i have

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2 answers
The car switched to "limp" mode. The first thing to do is to read the code(s) and go from there
I had this happen to me with my 2006 Outback 2.5i. It was a bad plug that was misfiring. If you have not already, you will want to have the plugs and wires checked.