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Debt talks: No 'hallelujah moment' in sight

Testy lawmakers and President Barack Obama headed back for a fifth day of debt-limit negotiations Thursday, pointing fingers at each other while trying to stave off a government financial default.

By Jim Kuhnhenn, Nancy Benac | Updated on July 14, 2011
Treasury Secretary Timothy Geithner looks on at right as Senate Majority Leader Sen. Harry Reid of Nev., makes remarks on Capitol Hill in Washington, Thursday, May 14, 2011, after a meeting with Democrats about the debt limit . (AP Photo/Evan Vucci)

WASHINGTON (AP) — Testy lawmakers and President Barack Obama headed back for a fifth day of debt-limit negotiations Thursday, pointing fingers at each other while trying to stave off a government financial default. No “hallelujah moment” was likely by day’s end, White House spokesman Jay Carney said, with Friday shaping up as an important decision day.

As the negotiations entered a perilous endgame. Federal Reserve Chairman Ben Bernanke warned of economic damage and an anxious Wall Street envisioned catastrophe if the U.S. defaulted on its obligations.

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