A few glimmers of hope had surfaced last Monday amid the US deadlock due to unresolved budget issues. This was displayed both in Congress and at the White House after US President Barack Obama said he would accept a short term increase in the country's debt limit. The move was to avoid a first ever debt default, said a Reuters report.
Meanwhile, according to a Senate aide, Republican Senator Rob Portman was floating a plan to reduce federal spending and reorganize the US tax code as a part of a bigger deal to reopen closed government agencies and increase the debt ceiling of the government.
Portman's initiative might or might not gain a strong grip but most lawmakers believe that a budget deal like it would be necessary to end the current shutdown. The government shutdown is now on its seventh day and only 10 days away from a critical phase to raise the debt ceiling of the United States. However, no breakthrough was in sight, reported Reuters.
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