Debt Deadline Nears

Published 10/16 2013 08:50AM

Updated 10/16 2013 08:52AM

(NBC News) The nation is just hours away from a crucial deadline to avert default on its debts and Washington remains muddled in a risky legislative process that has the American people and the rest of the world holding its collective breath.

After a furious day of Republican proposals ended with a thud and no House votes to advance a plan, lawmakers have even less time to approve a measure to increase the nation's borrowing power and end a dragging government shutdown.

Read More: http://nbcnews.to/196NxyR

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