US President Barack Obama has warned that Wall Street should be concerned that a conservative faction of Republicans is willing to allow the country to default on its debt. The US government has partially closed after Congress failed to agree a budget. In a TV interview on Wednesday, Obama said he was “exasperated”. He later held talks with Congressional leaders that ended without agreement. The US government closed non-essential operations on Tuesday after Congress failed to strike a deal on a new budget. Republicans and Democrats are blaming each other for the impasse. The shutdown has left more than 700,000 employees on unpaid leave and closed national parks, tourist sites, government websites, office buildings, and more. However, as one budget crisis raged in Washington DC, another one - potentially more dangerous - loomed in the coming weeks. On 17 October, the US government will run out of cash to pay its bills unless the debt ceiling is raised.
Source: BBC