With the US debt default deadline precariously close, President Joe Biden said his administration was close to achieving a breakthrough. For the first time in many weeks, Biden seemed upbeat about the prospect of getting the deal done and raising the debt ceiling.

'It's very close...': Biden sounds optimistic on breakthrough in debt ceiling talks

The White House said on Tuesday (May 23) that it is not considering any constitutional solution to the current debt impasse as currently, President Joe Biden is not planning to invoke the 14th Amendment to prevent a US debt default.

White House: Biden not planning to invoke 14th Amendment to prevent debt default

A war of words has been started between two largest economies of the world - US and China. They are engaged in a tussle over debt issue, it started after US Treasury Secretary Janet Yellen called China a 'barrier' to debt reforms in Africa.

China tells US to fix debt problems; Janet Yellen dismisses idea to mint $1 tn to avert debt default

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'It's very close...': Biden sounds optimistic on breakthrough in debt ceiling talks

White House: Biden not planning to invoke 14th Amendment to prevent debt default

China tells US to fix debt problems; Janet Yellen dismisses idea to mint $1 tn to avert debt default