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Lawmakers continue to work to make a deal to avoid default


POSTED: Monday, October 14, 2013 - 7:00am

UPDATED: Tuesday, October 15, 2013 - 10:06am

Washington is deadlocked as it enters the 14th day of a partial government shutdown that leaves the United States facing the prospect of defaulting on its bonds - a move that could send both the dollar and global financial markets into a tailspin.

The crisis has already led to furloughs of 350,000 federal workers, canceled military training missions and slowed economic growth.

Following multiple talks between Republican congressional leaders and President Barack Obama over the past two weeks, the negotiations are now focused on Senate leadership from both sides of the aisle.

Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell launched last-ditch negotiations over the weekend to end the spending and debt stalemate, but they may not be able to reach an agreement that can pass both the House and Senate.

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