US Senate Leaders Upbeat on Debt Deal
US Senate leaders have expressed optimism after a flurry of negotiations on raising the federal debt ceiling to avert a potentially disastrous default.
They were also nearing a deal to end a partial government shutdown, now in its third week, congressional sources said.
A budget bill would also need to pass the House of Representatives. House Republicans triggered the whole political deadlock two weeks ago.
The US must raise its $16.7tn (£10.5tn) borrowing limit by Thursday.
As he toured a soup kitchen for the poor in Washington DC on Monday, President Barack Obama warned that “defaulting would have a potentially devastating effect on our economy”.
He had been due to hold talks at the White House with congressional leaders that afternoon, but the meeting was postponed to allow the parties more time to cobble together an agreement.