President Obama is set to meet with Senate Democratic leaders at the White House as the impasse drags on over the government shutdown and the nation's credit limit.
The meeting was arranged after the Senate failed on a test vote to advance legislation that would have raised the government's current $16.7 trillion debt ceiling for one year. Senate Majority Leader Harry Reid, D-Nev., and the Republican leader, Mitch McConnell of Kentucky, are holding talks to break the logjam. But no solution seems imminent.
Reid says while he's "grateful" that Republican leader Sen. Mitch McConnell has reached out to him, the Republicans continue to attach unacceptable conditions to proposed legislation. Earlier in the day, House Speaker John Boehner told fellow House Republicans that his talks with President Barack Obama have stalled.
The administration has warned it will deplete its borrowing authority by Oct. 17, risking a damaging federal default, unless Congress acts.