The first phase of a deal to raise the government's borrowing limit would pose little threat to the economy in the short term because almost none of the spending cuts would occur before 2014.
Republicans have muscled legislation to extend the government's borrowing authority and cutting spending through the House over solid Democratic opposition.
Shares of Aflac Inc. rose more than 6 percent Thursday after the disability and supplemental insurance provider beat Wall Street expectations and showed continued progress in de-risking its investment portfolio.
The Senate's Democratic and Republican leaders traded blame for the debt standoff Thursday, as the House prepared to vote on the GOP's plan to raise the nation's borrowing limit before a Tuesday deadline.
Senate Democrats are telling Republicans controlling the House that there's no way they'll support a GOP plan to lift the federal debt limit that's emerging in the House.