Two Senators appearing on CBS' "The Early Show" this morning each spoke optimistically that an agreement could be reached, but not without concessions from the other party.
Sen. Ron Johnson, R-Wis., said there was a growing group of Senate and House Republicans willing to increase the debt ceiling, but only with the imposition of caps on federal spending and a Constitutional amendment requiring a balanced budget, in order to "fix the problem" of federal spending.
"First, we have to institute those spending caps, the fiscal discipline, before we actually start getting the details," Johnson told "Early Show" anchor Chris Wragge. "So, you know, the House has proposed a cut cap and balance: Cut off the baseline the first two years, and then provide a statutory cap to spending to put us on a path toward a balanced budget. And then pass a balanced-budget amendment. I think that's the only way we solve this long-term."
Sen. Chris Coons, D-Del., said that Democrats are willing to make trillions of dollars in cuts to federal spending, but in a "responsible" way, over the next decade.