it was a working weekend in washington, as the president met with congressional leaders, trying do come up with a plan on tackling the debt limit. but in a sign of the deep division on capitol hill, two rival plans now appear to be in the works. the for more, we go to nbc s tracie potts in washington. reporter: good morning. we re starting to see some signs that this gridlock in washington is not good for wall street. asian markets opened lower this morning, shaken that washington could be on the verge of its first-ever default. the big question now, how might wall street react this morning? it s unthinkable that this country will not meet its obligations on time. it s just unthinkable that we d ever do that. reporter: a market slide could affect what you pay for mortgages, car loans, financing college. right now, washington is stuck on the timing. democrats and republicans want to tighten this up now. i don t think they have they choice. reporter: republicans want
we begin with this morning with running out of time. it was a working weekend in washington, as the president met with congressional leaders, trying do come up with a plan on tackling the debt limit. but in a sign of the deep division on capitol hill, two rival plans now appear to be in the works. the for more, we go to nbc s tracie potts in washington. reporter: good morning. we re starting to see some signs that this gridlock in washington is not good for wall street. asian markets opened lower this morning, shaken that washington could be on the verge of its first-ever default. the big question now, how might wall street react this morning? it s unthinkable that this country will not meet its obligations on time. it s just unthinkable that we d ever do that. reporter: a market slide could affect what you pay for mortgages, car loans, financing college. right now, washington is stuck on the timing. democrats and republicans want to tighten this up now. i don t think
divisions on capitol hill, two rival plans now appear to be in the works. for more, we go to nbc s tracie potts in washington. tracie, good morning. reporter: good morning. the bottom line this morning, still no deal here in washington. ever so close to this deadline for default. republicans, democrats, the white house, all working overtime this weekend to try to come to some agreement. president obama had top democrats at the white house working on their backup plan. john boehner, the house speaker, meeting with conservative republicans last night telling them that they need to be ready to compromise and deal with some changes from what they originally wanted. there are two different versions here. democrats looking to, in fact, insisting that we deal with all of these cuts through 2013. republicans saying they want to do it step by step, which could mean more negotiations before the 2012 elections. the big concern this morning, will the markets be spooked by all of this j