Possible Deal on the Horizon in Washington, D.C.

Six days away from the debt ceiling deadline, politicians are scrambling to reach an agreement.
3:00 | 10/11/13

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Transcript for Possible Deal on the Horizon in Washington, D.C.
And now the other big story out of washington, what is happening on that stale mate, the shutdown. The new signs politicians are scrambling to hammer out a deal. We have two reports starting with abc's chief white house correspondent jonathan karl, giving us the latest right now. What are you hearing? Reporter: There is no deal yet. But essentially republicans are negotiating the terms of their own surrender. If a deal is struck it will certainly both reopen the government and put off the threat of default. But all of the big republican demands, virtually all of them are now off the table, especially obama care. That was what started all of this and major changes to obama care are not even on the table at this point. Now, there have been intense talks all day long, all of the republican senators came to the white house today. And those talks will continue over the weekend. It's still possible that this could all blow up. But there's a growing sense that a deal will be struck. Now, diane, I should say republicans will get something out of this, perhaps spending cuts or agreement on future budget negotiations, but the tea party is going to hate this deal, get ready for a big backlash, if a deal is struck. The thing is republican leaders felt they were being hurt so bad, they just had to find a way to bring this to an end. That's what they are trying to do now. John, you think this will accelerate over the weekend? Reporter: I think you will see talks, intense talks through the weekend, if a deal is not struck diane, by monday or tuesday, we are looking like we could face default. The clock is running out. With a minute by minute, jonathan karl at the white house, thank you.

This transcript has been automatically generated and may not be 100% accurate.

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