Monday marks day 14 of the government shutdown. As YNN's Megan Cruz reports, lawmakers are still no closer to finding a solution, three days before the U.S. hits the debt ceiling.
WASHINGTON, D.C. -- Lawmakers remain deadlocked as the government shutdown enters its fourteenth day.
Although there were several proposals over the weekend to end the spending and debt stalemate, none of the negotiations led to a resolution.
Talks between President Barack Obama and House Republican leaders have supposedly collapsed. Now, the hope of reopening the government and raising the nation's borrowing limit rests in the hands of Senate leaders.
The two leaders spoke Sunday and were not able to develop a solution. Now, the issue is sequestration. Those automatic spending cuts took effect in March. According to Minority Leader Mitch McConnell, Senate Republicans want a deal to include a stipulation that the government continues with another round of spending cuts in January.
Meanwhile, Majority Leader Harry Reid and Senate Democrats say they want to undo the cuts.
The government shutdown has already furloughed at least 350,000 employees nationwide, and slowed economic activity in the United States. If the debt ceiling is not raised by Thursday, the U.S. could begin defaulting on its loans.
On Thursday, the government will have borrowed $16.7-trillion, and the country cannot legally borrow any more money unless Congress votes to raise the ceiling.
If that does not happen, the Treasury will have about $30 billion. Leaders anticipate the country will run out of money by the end of October.
Without raising the debt ceiling, investors would become fearful, organizations would be less willing to lend the country money, and there would be plenty of economic uncertainty.
The Senate is expected to meet at 2 p.m. on Monday.