Senate Leads Hunt For Shutdown And Debt Limit Deal

Senate leaders have taken the helm in the search for a deal to end the partial government shutdown and avert a federal default.

Senate Majority Leader Harry Reid met Saturday with Senate Minority Leader Mitch McConnell. Reid told reporters that while there is still a long way to go, the mere fact that they are negotiating is a good sign.

Sunday marks the 13th day of a federal shutdown that continues to idle 350,000 government workers and curtail a wide range of government services.

More ominously, Thursday draws another day closer. That's when the Obama administration warns that the U.S. will deplete its borrowing authority and risk an unprecedented federal default.

Economists say a default could send shockwaves throughout the U.S. and global economies.


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