World Bank President Warns Washington Default Would Be 'Disastrous'

Debt ceiling clock ticks away as talks to end deadlock over government shutdown decrease.
3:35 | 10/13/13

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Transcript for World Bank President Warns Washington Default Would Be 'Disastrous'
that clock ticking, and what we ask, happened to all of that talk of a deal this weekend? No deal at all. Tonight, so many americans simply fed up. An angry crowd taking down barriers at the lincoln memorial. Some of those demonstrators then tossing those barricades in front of the white house. Other national monuments open this weekend for the first time in days after pleas from tourists and state leaders. The statue of liberty and the grand canyon among them. And a stern message torn from the financial pros from all over the world. Meeting in washington, just this weekend, the president of the world bank warning that america defaulting later this week would be a disastrous event to the global economy as a whole. That default now just more than three days away. We have team coverage tonight. How this could effect your investments, the rates you pay. First here, abc's senior washington correspondent jeff zeleny tonight. Reporter: David, they don't know exactly how they're going to get this done. It's creating new obstacles here on capitol hill and loud frustration all across washington. Anger boiling over tonight. On day 13 of the government shutdown. A protest from the world war ii memorial. To the lincoln memorial. A group of veterans, calling their demonstration "the million vet march." How far is the white house? Reporter: Then hauling the barricades more than a mile. Escalating into a confrontation at the gates of the white house. You work for us! You work for us! Reporter: Washington on edge, but no breakthrough. In just four days, the administration saying the country will face its first default. Unable to pay bills and borrow money unless lawmakers agree to raise the debt limit. The senate convening for another weekend session, but both sides still far apart. Over how much and how long to fund the government. I'm optimistic about the prospects for positive conclusion. Reporter: Senate majority leader harry reid and his republican counterpart mitch McCONNELL WERE NOT HUDDLED IN A Back room of the capitol. Instead, they only spoke briefly by telephone. All sides, bracing for the fallout. We're in a free fall as republicans, but democrats are not far behind. Reporter: With washington in gridlock, states and local governments were able to reopen some national treasures. From the grand canyon to the statue of liberty. ♪ Statue of liberty is open ♪ this is beyond anything that we had expected, getting to go there at the very last minute. Reporter: One glimmer of optimism in a deepening stalemate. Now, david, the fear of that potential default is the only thing creating a sense of urgency here. Senators on both sides tell me tonight they do ultimately expect to reach a deal, but then it has to go back to the deeply divided house. David? Jeff, thank you. I want to bring in our chief white house correspondent jonathan karl tonight. Jon, inside the white house, i know they are not revealing their hand, but bottom line, will there be a deal or no deal? Reporter: Well, there certainly is no deal now and the problem is, time is running out. There are still differences here. But I believe there will be a deal. I've talked to key players on all sides of this, both here at the white house and on capitol hill, and you talk to them, you detect weariness, exhaustion, even some crankiness, but what you do not detect is panic. Both sides say it is imperative that the government be reopened and that there be no government default. They are working towards that and I can tell you, that they are still fighting over how long the deal will be and the level of government spending, but both sides are saying that there must be a deal because the alternative simply is unthinkable.

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