Sen. Amy Klobuchar predicts there will be a debt ceiling and deficit reduction bill coming out of the Senate soon.
Klobuchar said she's been meeting privately with several bipartisan groups of senators trying to negotiate a deal that will be acceptable to both Democrats and Republicans.
The "Gang of Six" -- Democrats Dick Durbin of Illinois, Mark Warner of Virginia and Kent Conrad of North Dakota, and Republicans Saxby Chambliss of Georgia, Mike Crapo of Idaho and Tom Coburn of Oklahoma -- met for months earlier this year trying to reach a deal. Coburn pulled out in May after an impasse over raising taxes, stalling negotiations.
But with the August debt ceiling deadline nearing, talks within the group started up again, and Coburn has considered rejoining.
Klobuchar said a Senate bill to raise the debt ceiling and reduce the deficit could be introduced in the Senate this week. The deal would involve increasing the borrowing limit, she said, while cutting spending, closing tax loopholes and ending subsidies.
Klobuchar said she plans to talk next week with Minnesota business leaders, including top executives at General Mills and 3M, to encourage them to help get the word out about the ramifications of default. She also plans to explain to constituents how they could be personally affected by default.
"We can't play Russian roulette with the economy," she said.