The United States debt crisis debate has taken a theatrical twist, as sharemarkets react to the deadlock.
The US Treasury Secretary has issued his strongest warning yet, saying unless politicians reach a deal by 17 October, the Government will not be able to pay its bills.
Jack Lew said that unless the US is allowed to extend its borrowing limit, the country will be left with about $30 billion to meet its commitments, the BBC reports.
The Republicans are demanding spending cuts, including scrapping President Barack Obama's healthcare plan, but the Democrats are opposing any cuts to public spending
In an attempt to hold up the motion to maintain government funding, Republican senator Ted Cruz pulled an all-nighter, speaking for more than 22 hours including reading Green Eggs and Ham by Dr Suess.
A BBC correspondent says it is significant that the Treasury Secretary has chosen to wade into the debate and it a way for Mr Lew to put pressure on Congress to raise the debt ceiling by the deadline.
