The US economy has a indirect effect on the world's economy. Hopefully, the meeting between the two parties (Democrats and Republicans), should yield a significant resolution.
US President Obama has called Democratic and Republican lawmakers to the White House on Thursday for talks on raising the country's debt ceiling, as a deadline for action looms.
The government risks defaulting on its debt if Congress does not enact more borrowing authority by 2 August.
Republicans say they refuse to consider raising taxes, while Democrats hope to protect favoured social programmes.
It is unclear how close the two sides are to a deal.
"I believe that right now we have a unique opportunity to do something big," the president said during a news conference on Tuesday.
"This will require both parties to get out of their comfort zones."
President Obama said he hoped the White House and US lawmakers would reach an agreement on debt within two weeks.
The president said he hoped the meeting on Thursday will "build on the work that's already been done and drive toward a final agreement".
BBC