Debt limit negotiators under pressure to reach deal as risk of default grows

(CNN) — There are signs that negotiations over raising the nation’s debt limit are gaining momentum, but major differences remain and it’s unclear how quickly an agreement could come together. Time is running short as the risk of a first-ever default grows.

With no bill to vote on, House lawmakers left Washington for the Memorial Day weekend and will be given 24 hours’ notice to return if and when a deal is reached.