US debt ceiling day October 17: What happens?

Last Updated: Wednesday, October 16, 2013, 20:53

The US Treasury says that starting Thursday it will not have enough cash to pay its bills unless Congress increases the USD 16.7 trillion cap on its power to borrow more money.

Senate in spotlight as US on brink of possible default

Last Updated: Wednesday, October 16, 2013, 19:43

US lawmakers embarked on another day of high-stakes political brinkmanship Wednesday, battling to scrape together an eleventh hour deal to protect Washington`s battered financial standing.

US shutdown blues: From end of earth to outer space

Last Updated: Wednesday, October 16, 2013, 18:30

The US government shutdown, now in its 16th day, has forced hundreds of thousands of federal workers to stay home and restricted many government services.

US debt default imminent as frantic political attempts fail

Last Updated: Wednesday, October 16, 2013, 18:00

Frantic attempts to persuade House Republicans to lift the federal debt limit collapsed Tuesday night, leaving Washington careering toward a critical deadline of October 17 to raise the country's debt ceiling.

US lawmakers begin last-ditch effort on debt ceiling

Last Updated: Wednesday, October 16, 2013, 12:13

The US Senate prepared for a last ditch effort Wednesday to avoid a historic lapse in the government`s borrowing authority, a breach that President Barack Obama has said could lead to default and deliver a damaging blow to the global economy.

Asian stocks hunker down as U.S. debt deadline looms

Last Updated: Wednesday, October 16, 2013, 12:09

Asian stocks marked time on Wednesday with nervous investors praying that frantic talks in Washington to avert a U.S. debt default could lead to a deal before the Oct 17 deadline, after which the government would run out of ways to borrow.

US Senate leaders still in talks as debt limit imminent

Last Updated: Wednesday, October 16, 2013, 10:00

With the United States just a day away from exhausting its ability to borrow money, U.S. Senate leaders were still discussing a deal late on Tuesday aimed at raising the debt limit and reopening federal agencies that have been closed for two weeks.

Fitch puts US triple-A credit rating under negative watch

Last Updated: Wednesday, October 16, 2013, 09:19

Fitch said that delays of lifting the debt ceiling would cause volatility and damage US creditworthiness.

Obama rejects House Republican debt plan, shutdown continues

Last Updated: Tuesday, October 15, 2013, 22:09

Efforts to end the US government shutdown and avoid a debt default before the October 17 deadline remained elusive as the White House Tuesday dismissed the latest House Republican proposal to resolve the impasse, alleging it was tantamount to "ransom".

US shutdown: Obama rejects proposed debt plan by Republicans

Last Updated: Tuesday, October 15, 2013, 22:01

The White House on Tuesday dismissed a possible plan by the Republicans that could have put an end to the US shutdown and end the political deadlock.

US shutdown: Budget rift pushes Washington to the brink

Last Updated: Tuesday, October 15, 2013, 21:33

Washington`s risky game of political brinkmanship neared crisis point Tuesday, with no deal yet nailed down to avoid a catastrophic US debt default, just 36 hours before a crucial deadline.

US shutdown: House GOP comes up with alternate plan to counter Senate

Last Updated: Tuesday, October 15, 2013, 21:24

To counter a possible plan that could end a US shutdown and raise the debt ceiling, the House GOP leaders have come up with an alternate plan of their own on Tuesday to avert a crisis.