Senate heads 'close to budget deal'

US Senate leaders are nearing a deal in talks to reopen the government and prevent a default on debt that could tip the global economy back into recession.

But an agreement in the Senate would only move the country halfway toward solving a fight between Republicans and president Barack Obama’s Democrats over government spending. Many conservatives in the House of Representatives were standing fast against the plan that would fund the government until January 15 and allow the Treasury to borrow money to pay bills until February.