Only 15 days remain until the August 2 deadline that Treasury Secretary Timothy Geithner has said is the latest the United States can pay its bills before raising the debt ceiling. After days of high-profile negotiations that appeared to hardly move the needle on a deal, it's back to the drawing board this week.
As of now, no White House pow-wows with the president and congressional leaders are on the official schedule, though White House advisers say that could easily change. It's also unclear the extent to which the president engaged in the issue over the weekend.
The latest from CNN's Tom Cohen:
Washington (CNN) - President Barack Obama and congressional leaders will continue to negotiate a possible deficit reduction deal this week to clear the way for congressional Republicans to back an increase in the federal debt ceiling.
While discussions continued over the weekend after the last full negotiating session Thursday, no significant progress has occurred and the chances for a comprehensive deficit deal sought by Obama in coming weeks appear remote.
Without a major deal, Congress would have to focus instead on a smaller agreement to raise the debt ceiling or face the unprecedented situation in 15 days of the government not having enough money to pay all its bills. The debt ceiling has reached its $14.3 trillion legally permitted maximum.