Republican leaders in Congress say they are confident that an impasse will end soon over raising the government's debt ceiling and heading off default.
House Speaker John Boehner and Senate Republican leader Mitch McConnell made the prediction after the Republican-led House rejected Senate Democrats' rival plan. McConnell said he had spoken in the previous hour with President Barack Obama and Vice President Joe Biden. Boehner and McConnell said the president still needs to indicate what kind of package he will sign. He said discussions on that were taking place.
In the meantime, Obama called Democratic leaders Harry Reid from the Senate and Nancy Pelosi from the House to the White House to meet with him Saturday afternoon.