Default looming, Day 14 of shutdown, no solution

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October 14, 2013, 12:58 pm
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(NECN/NBC News: Danielle Leigh, Washington D.C) - The government shutdown is now in its third week, and congress has a Thursday deadline to raise the country's borrowing limit.

Now, the pressure is on in Washington to keep the country from defaulting on its debts.

President Obama will meet with bipartisan congressional leaders at the White House Monday afternoon.

“All we do is start and go and then we stop and then we stop and we never get going forward on a real long term deal,” said Senator Mark Begich.

Several senators are back to pushing for a bipartisan plan led by Sen. Susan Collins that met resistance over the weekend.

That proposal would re-open the government, raise the debt limit through January, give republicans some reforms to Obamacare, and give Democrats flexibility in dealing with automatic spending cuts.

“It is a good template it takes into consideration everyone's needs and concerns,” said Senator Joe Manchin of West Virginia.

Still, many lawmakers are hesitant. Sen. Bob Corker of Tennessee is one who is staying optimistic.

“I do hope that by the end of the day here will have an agreement that will make sense for our country,” Corker said.

Other lawmakers are trying to calm the fears of financial leaders.

 “If we go past Wednesday, it’s not a default- it’s going past a deadline. We will not default anytime soon on our debts,” said Roger Wicker of Mississippi.

Congress may have some time, but according to the treasury not much.

This Thursday the country will have just 30 billion dollars left to pay its bills, which is not enough to make payments due November, 1, totaling 67 billion dollars.

Despite all this talk about urgent deadlines, both the house and senate waited until this afternoon to get back in session.

Tags: Senate, Joe Manchin, government shutdown, default , NBC News, danielle leigh, Roger Wicker, bob corker, Pesident obama, Mark Begich
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