President has less than two weeks to stop the country defaulting on its debt for the first time in history - which would prompt fiscal chaos for millions of Americans.
On Monday afternoon he will meet at the White House to try and carve out a deal to prevent what could be a catastrophic economic situation.
The US hit its $31.4 trillion debt ceiling in January and since then the Treasury has used what it describes as 'extraordinary measures' to keep its balance books afloat.
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