VENTURE CAPITAL POST

The creditworthiness of the world's largest economy seems to be drenched as US treasury has stopped issuing further debt citing reasons for reaching the borrowing ceiling.

The United States could start missing payments on its obligations some time between March and June if lawmakers don't raise a legal limit on borrowing by early February, congressional analysts said on Wednesday.

About USD43 billion was pulled from the money market as investor fears of US debt crisis reached its height prior to Wednesday nights passage of much needed legislation.

Senate Congressional leaders from both parties have progressed as to reaching a deal on the debt ceiling and the budget impasse.

Stock markets in Europe fluctuated wildly amidst the uncertainty of the US finalizing budgets for its debt servicing and other governmental services.

The proposal to extend the debt ceiling another six weeks is untenable, according to US President Obama, causing a further delay in the deal.

Deutsche Bank co-CEO Anshu Jain and JP Morgan CEO Jamie Dimon join chorus on US government breaking gridlock on budget and debt ceiling.

A default would bring catastrophic results to the world economy.

As the budget deadlock continues, the stock market's fear index is rising and many investors are preparing for future stock volatility.

Obama, in an interview with the Associated Press, said he expects Congress to reopen government and increase debt ceiling before the October 17 deadline.

Asian creditors may be the least of the worries of the US government even if the US Congress would fail to raise its debt ceiling.

History showed greater economic performance after a shutdown, but there are many issues after that which need action from government.

A National Journal report said the US government would be headed for a shutdown if the two houses of Congress still won't come to an agreement on Obamacare.

Warren Buffett, the billionaire head of Berkshire Hathaway, said that a possible standoff on the debt ceiling would be costly.

In the fifth year after the so-called 'Great Recession', Obama highlights the gains made by the US economy as a better capitalized and better regulated economy.