capitol hill
Media playback is unsupported on your device

Political deadlock in Washington could hit benefits

White House talks on raising the US debt limit before it expires this week have been delayed to allow lawmakers more time to hammer out a deal.

The US must raise its $16.7tn (£10.5tn) borrowing limit by Thursday so that the nation can pay its bills.

The International Monetary Fund (IMF) has warned that a US debt default would trigger global economic turbulence.

A failure to raise the borrowing limit would also impact millions of Americans who receive benefits such as Social Security and Medicare.

Mariko Oi reports from New York.

  • 15 Oct 2013
Go to next video: What is the US debt ceiling?