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Obama: Without Deal 'Good Chance of Default'

Posted at: 10/14/2013 1:43 PM



WASHINGTON (AP) - President Barack Obama says that if Republicans can't resolve the standoff over the debt ceiling and the partial government shutdown, quote, "we stand a good chance of defaulting."

Obama was at a Washington D.C. charity that has been highlighting the effects of the partial government shutdown by inviting furloughed workers to volunteer. The agency, Martha's Table, is also offering assistance to federal employees who are not being paid and need emergency aid.

The visit comes on the 14th day of the shutdown and just three days before the Treasury says Congress must increase the nation's borrowing limit or risk a government default.

Later Monday, Obama was meeting with the bipartisan congressional leadership.

Obama says the problem is politicians using brinkmanship to extract partisan concessions.

Senate Dem leader: 'We're getting closer' to deal

Senate Majority Leader Harry Reid says he's getting closer to a deal with Republican leader Mitch McConnell that would increase the nation's borrowing authority and end the 2-week-old government shutdown.

Reid made the comments to reporters on Monday after emerging from a meeting with McConnell that lasted just over a half hour.

Reid said they would continue to work on it and hoped to have something to present to President Barack Obama at a White House meeting Monday afternoon.

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