Debt limit negotiations reach critical point as parties clash.

White House and House GOP negotiators are working to finalize a deal to raise the US debt limit as the risk of a first-ever US default grows. Negotiators hope to announce an agreement as soon as Saturday, but the process of turning a framework into an actual bill can be laborious. One of the most critical issues has been reaching a deal over spending cuts, which Republicans have demanded in exchange for voting to raise the debt limit. The pressure on negotiators is intense as the US steadily inches closer to the possibility of a default and the threat of economic catastrophe.