WASHINGTON (October 14, 2013)—The U.S. was moving perilously closer to an economy-rattling default as a partial government shutdown entered its third week Monday with no resolution in sight.
Senate Democratic and Republican leaders remained at odds over spending in their last-ditch negotiations to end the crises gripping the nation.
U.S. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell talked Sunday, but failed to agree on a deal to raise the nation's borrowing authority above the $16.7 trillion debt limit or reopen the government.
Congress is racing the clock.
U.S. Treasury Secretary Jack Lew warns that the U.S. will quickly exhaust its ability to pay the bills on Thursday.