The Democratic-controlled Senate voted 54 to 44 Friday to extend government funding through Nov. 15 and strip from the bill a measure to defund "Obamacare" that earlier passed the House of Representatives. The continuing resolution now heads back to the House, where its fate remains unclear. With the majority of each house of Congress at loggerheads, the rhetoric has made for a high-stakes staring match, and if neither side blinks before the end of Monday night, a government shutdown could result. On Friday, President Barack Obama called the GOP's tactic to defund Obamacare "political grandstanding" and urged Congress not to let a government shutdown happen. "Do not threaten to burn the house down simply because you haven't gotten 100 percent of your way," he warned. Meanwhile, stocks dropped Friday amid mounting concerns of a potential shutdown. Click through to read about what could happen next.
Obama Urges the House: "Do Not Shut Down the Gov't"
FILE - This Nov. 16, 2012 file photo shows Senate Majority Leader Harry Reid of Nev., left, with House Speaker John Boehner of Ohio looking on, speaking to reporters outside the White House in Washington following a meeting with President Barack Obama to discuss the economy and the deficit. President Barack Obama's re-election has stiffened Democrats' spine against cutting popular benefit programs like Medicare and Social Security. Their new resolve could become as big a hurdle to reaching a deal for skirting economy-crippling tax increases and spending cuts in January as Republicans' resistance raising tax rates on the wealthy. (AP Photo/Jacquelyn Martin, File)