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US inches closer to debt default

America is inching closer to default after the latest effort to reach agreement on raising the debt...
TodayFM
TodayFM

1:28 PM - 16 Oct 2013



US inches closer to debt defau...

News

US inches closer to debt default

TodayFM
TodayFM

1:28 PM - 16 Oct 2013



America is inching closer to default after the latest effort to reach agreement on raising the debt ceiling failed.

The White House has rejected a new plan by Republican House leaders to avoid a disastrous debt default - calling it a "ransom" demand.

The US must raise its 16.7 trillion dollar debt limit by midnight tonight or risk defaulting on payments.

Republicans and Democrats have been accused of playing politics - as the country is in its third week of shutdown.

Juliette Gash reports;



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