Durbin believes deal may be coming together as debt ceiling negotiations drag on

SPRINGFIELD, Ill. - There was plenty of finger-pointing on Capitol Hill Wednesday as debt ceiling negotiations drag on.

However, both sides remain upbeat about the chances of a deal. 

House Speaker Kevin McCarthy announced another round of talks at the White House with the clock ticking to avoid a disastrous default. 

As the Senate's second-ranking leader, Sen. Dick Durbin is following the debt ceiling negotiations closely and says it feels to him like a deal is coming together.

"Experience tells me at the end there will be an agreement. I think there's just too much at risk for the Speaker of the House to bring down the American economy, to default on our national debt for the first time in history," said Durbin.

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At this stage in the negotiations, both Republicans and Democrats appear to have dropped some of their initial demands, though sources report there's no agreement yet on final federal spending levels.  

Durbin expects there will be parts of any deal that he will not like but may have to vote for.

"I know I'll be unhappy with it. The notion --Speaker McCarthy's suggestion of cutting medical research by 25% in America — I think is shameful. But spending cuts like that, and others, are coming," said Durbin. 

GOP House Speaker McCarthy told reporters that the sides remain "far apart."