US debt plans in deadlock

Republicans and Democrats hold separate talks on deal, as markets see modest falls over uncertainty.

    Legislators in Washington have again failed to reach agreement for the US to raise its maximum borrowing level.

    It had been hoped a deal would be struck before Asian financial markets opened on Monday morning.

    Both parties insist they do not want the US to default on its credit but time is running out.
     
    Unless an agreement is reached, the treasury will run out of the money it needs to pay its bills on August 2.

    Al Jazeera's Cath Turner reports from Washington.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Revival: The Muslim Response to the Crusades

    Revival: The Muslim Response to the Crusades

    This part of 'The Crusades: An Arab Perspective' explores the birth of the Muslim revival in the face of the Crusades.

    Going undercover as a sex worker

    Going undercover as a sex worker

    A photojournalist describes how she posed as a prostitute to follow the trade in human flesh.

    Africa is not poor, we are stealing its wealth

    Africa is not poor, we are stealing its wealth

    It's time to change the way we talk and think about Africa.