As US politicians race to raise the country's debt ceiling before Thursday's deadline, here is a glossary of some key terms of the debt crisis:
- Debt ceiling: The limit on the amount that the US government can borrow. This is set by Congress and is currently $16.7 trillion
- Congress: The US legislative body responsible for setting the debt ceiling. It consists of two parts - the Senate and House of Representatives
- Default: This is when a borrower cannot repay a debt on time. In the case of a country, like the US, this is called "sovereign default"
- Bond: Bonds are an IOU issued by government in order to raise money. They are usually - and especially in the case of US Treasury bonds - seen as a safe investment
- Yield: The amount of return (or interest) that the government pays to a bondholder. This is tied to the value of the bond, which is linked to the likelihood of the issuing country repaying
More top news
Former Newsnight presenter Jeremy Paxman has said he no longer watches the programme but revealed he's a fan of dating show Take Me Out
Prince Harry will miss the birth of his new niece or nephew as he has flown back to Australia.
Myleene Klass is set to shock Countdown fans by giving a naughty eight-letter word as her answer on tonight's show.