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Congressional negotiations to end a US fiscal crisis gripping Washington and spooking financial markets hung by a thread on Saturday after bipartisan talks broke down in the House of Representatives and shifted to Senate leaders. Senate Majority Leader Harry Reid, a Democrat, held an initial session with Senate Republican leader Mitch McConnell. But uncertainty remained about their ability to reach an agreement quickly to end a partial government shutdown and increase the nation's borrowing authority. Thursday is the deadline for raising the debt ceiling, necessary to avoid a possible government default. The Senate was scheduled to meet on Sunday, but the US House of Representatives was not, so Congress will be cutting it close. "Economists say it won't be long before financial markets react negatively to this continued uncertainty," Reid said on the Senate floor. "The life savings of ordinary Americans are at risk." Among the unresolved issues is the duration of the debt ceiling increase. House Republicans were pushing a boost that would last only six weeks, producing another potential showdown in the middle of the holiday season. Democrats want to push the next debt ceiling deadline at least well into new year. Also at issue were government spending levels and Republican concerns about US President Barack Obama's signature healthcare law, popularly known as Obamacare. Republican demands for defunding Obamacare led to the shutdown on Oct 1. | 
