Economy

Two sides seen moving toward an agreement to extend U.S. borrowing authority.

Treasury would cut other government spending to meet interest payments on debt.

Each day of closures causes $160 million in lost economic output, IHS estimates.

Fund also warns that a U.S. default could seriously damage world economy.

Fund also warns that a U.S. default could seriously damage world economy.

7 million full-time jobs estimated to be tied to U.S. government contracts.