America has raised its debt ceiling 140 times without controversy, but on this occasion time is running out for warring political factions to find a way to head off a devastating fault. A last gasp compromise began to take shape in Congress on Sunday night aimed at ending the US deadlock that has threatened to throw the US and world economy into chaos, but with time running out Congress may have left it too late. The Guardian's Ewen MacAskill reports on the crisis as the clock runs down. Read more...
