WASHINGTON (AP) - Officials say the White House and Republican leaders in Congress are making significant progress toward a last-minute agreement to avoid a default threatened for next week.
These officials say the two sides are discussing a plan to raise the debt limit by about $2.4 trillion and enact spending cuts of a slightly larger amount in two stages.
The deal under discussion would also require Congress to vote on a balanced budget amendment to the Constitution, but not require its approval.
The officials spoke on condition of anonymity, citing the sensitivity of the discussions.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
