Efforts to reopen the government and extend the nation's borrowing power collapsed in the House Tuesday, leaving all eyes on the Senate to craft a deal. Michael Scotto has the story.
WASHINGTON, D.C. -- It was a dizzying day in Washington, D.C. after two proposals crafted by House Republican leadership collapsed before they could even be put to a vote, leaving the country on the verge of default.
Senate leaders are now, once again, trying to put together a bipartisan deal that would reopen the government and lift the debt ceiling before Thursday, when the Treasury Department says it will begin to run out of money to pay the nation's bills.
Already Fitch, a major credit rating agency, has put the country on notice.
"We did not do a single thing today because John Boehner and the House Republicans could not got their act together and they brought us closer to an historic default," said New York Representative Hakeem Jeffries.
House Speaker John Boehner saw his efforts fall victim to party infighting after the conservative wing of the GOP complained the proposals didn't do enough to gut the President's health care law. Democrats, meanwhile, accused the GOP of trying to sabotage negotiations in the Senate.
Before his efforts fell apart, House Speaker John Boehner insisted he wouldn't let the country run out of cash.
"I have said for months and months that the idea of default is wrong," Boehner said.
But it's still not clear how the country will avoid default. With the deal making now back in the Senate, lawmakers aren't sure if they have enough time to meet that critical Thursday deadline.