US Congress races to agree new debt ceiling as the country is running out of money

The US Treasury has warned that Congress has to raise the country’s debt ceiling, saying Washington only has 10 days left to deal with the crisis or it will run out of money. US debt ceiling, which is the total amount of money that the country can borrow to fund itself, is now over $31 trillion dollars.

American media outlets are also sounding the alarm, warning that defaulting would have major consequences for not only Americans, but the whole world .

RT contributor Chris Emms looks into the issue.

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