warning over the country s debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. without an agreement to increase what the federal government can borrow, it could run out of money by earlyjune. at that point the federal government might not be able to make wage, welfare and other payments. our north america business correspondent michelle fleury is live in new york for us. we have been here before but once again, a stark warning that if nothing is done, it causes huge repercussions around the world. this is because as repercussions around the world. ti 3 is because as you say it is going to affect the jobs of government employees in the united states and have a knock on effect on the border economy, but then there is beyond the shores of the united states, the kind of ricochets it will have around the global financial system and that is why you have had this increasing drumbeat as we get closer to the kin
we begin in the us, where the treasury secretary janet yellen has sounded a stark warning over the country s debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. speaking to abc, she says that if lawmakers fail to raise that ceiling the us could be left unable to pay its bills by the beginning ofjune. it is congress s job to do this. if they fail to do it, we will have an economic and financial catastrophe that will be of our own making and there is no action that president biden and the us treasury can take to prevent that catastrophe. russ mould is investment research director at aj bell. we have been here before. all of the same warnings that the us could tape off a cliff if it doesn t raise the debt ceiling and yet more warnings. yes, we have and i think the us debt ceiling has been raised 75 or 80 times in its history and we have had eight government shutdowns while a new debt ceiling has been wor
enter their final day, people across the uk are taking part in community events. the big help out will see people taking on volunteering roles, and members of the royal family have been dropping in on some of the projects as charlotte gallagher reports. after the glitz and glamour of the coronation concert, today s celebrations come down to earth. scouts and their volunteer leaders are just some of the thousands of people taking part in the big help out. and a famous face is getting involved too. you ll make it makes us all a better person when we get involved. we extend our network and meet new people and develop new friendships. we feel like we are doing something positive. and i love that. members of the royal family are at some of the events, including the prince and princess of wales and their children. they ve been in slough, helping the scouts were a bit of building work, with prince louis keeping up with his older brother, getting behind the controls of a digger. th