cnn's manu raju joining me live on capitol hill with more on these developments. mcconnell's technically right, but what is technically really going on here? >> reporter: well, it's a staring game. it's unclear who will blink first, and it has significant consequences, kate, if no deal is reached by october 18th. that is when the country could face its first-ever default on the national debt. that would have massive economic ramifi ramifications. it's unclear exactly how this will play out. chuck schumer telling his colleagues that republicans need to agree to move forward in some way. and so the senate will be in session, potentially this weekend into next week if they don't deal with this immediately. by the end of this week. now what the democrats have proposed to do is allow this to pass on a simple majority threshold. all 50 democrats vote yes to consent to suspend the national debt limit. republicans have objected and instead say they have to go through a separate process known on capitol hill as the budget reconciliation process. now that process takes a couple of weeks.