Government Shutdown Looms as Neither Side Backing Down

With only four days until a government shutdown, the president and Congress are still at odds.
1:37 | 09/27/13

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Transcript for Government Shutdown Looms as Neither Side Backing Down
Now, to washington, where a looming government shutdown now less than four days away. Both sides not giving in. Time is running out. You see the clock there. Abc's jonathan karl is on top of it all from the white house and joins us with the latest. Jon, is there any hope for a resolution here? Reporter: Not much, robin. As the clock ticks down towards shutdown, there's no real sign of progress anywhere. The senate is going to be in session through the weekend. They will, I believe, pass a bill that would fund the government, just for a month and a half or so, over the weekend. But here's the thing. Speaker of the house john boehner has already said that the house republicans will not accept that bill because it does not defund obama care. They're going to make changes. The back and forth is going to go on. We're going to get closer and closer. Far more dire is what's going to happen in about two weeks later, which is the government hits the amount of money it can borrow. It maxes out its credit card. If they don't raise their ability to borrow money, we could face default. That's it right there. What are the chances the government will shut down and default and not be able to pay the bills? Reporter: I say the chances are getting greater with each passing hour. I'll tell you this. Leaders in both parties that I've spoken to, think at the very least, a shutdown is more likely than not. I would put the odds of shutdown and default at 50/50. And I may be being optimistic. All right, jon, thank you. And george will have an exclusive interview with former president bill clinton, who is weighing in on all of this. You can catch it sunday morning on abc's "this week," with george.

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

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