Government On The Brink Of Default, Possible Deal In The Works - WJBF-TV ABC 6 Augusta-Aiken

Government On The Brink Of Default, Possible Deal In The Works

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Washington, D.C. -

Today marks the final countdown. The government is still shut-down and is now on the brink of default.  ABC's Tahman Bradley is on Capitol Hill with the very latest.

This morning, Washington is on the brink of a crisis of its own making.  Both the House and Senate adjourned last night without a deal to avoid default and reopen the government.  Senate leaders Harry Reid and Mitch McConnell have re-started negotiations - after House Speaker John Boehner's alternative plan was soundly rejected by Tea Party Republicans before it even came up for a vote.  Democrats say GOP disarray has put the country in danger.

"Make no mistake, the bill that the republicans are putting on the floor today is a decision to default," said Rep. Nancy Pelosi (D) House Minority Leader. 

Wall Street is in panic mode. The markets closed down for the day.  And one of the top three credit ratings agencies put the US AAA credit rating under review for a downgrade.  Americans are fed up.  Michelle Langbehn, a cancer patient, is angry that the shutdown has denied her experimental treatments.

"It's been very difficult. I honestly really shouldn't have to be here right now. This should have been solved a long time ago," Michelle Langbehn, Cancer Patient

The Senate deal Reid and McConnell are working on would:  Reopen the government until January 15th

Extend the nation's credit limit until February 7th and make no major changes to President Obama's health care law.

This plan would set up another budget showdown.  But President Obama told our station in New York, WABC that he doesn't think   it will go this far again.

"The Republicans recognizing this was not a good strategy and seeing a horrible reaction from the American people, I'm pretty sure they're not going to run this play again," said President Obama.

"The President says he expects Congress will get something done today to avoid default. Aides to Senators Reid and McConnell say they're "optimistic," reports Tahman Bradley, ABC.

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