Washington: Top lawmakers and president of US barrack Obama talked about budget deadlock break. They further said negotiators will work throughout weekend to finalize a deal in order to avoid a default debt.

There was a rebellion from left flank and top democrat Nancy Pelosi expressed concerns over curtailing popular programs of entitlement like medicare and social security. These are part of deficit reduction deals on a broader scale.

The aim of US lawmakers and Obama is to go for the agreement which will cut spending of the government, raise taxes and restore semblance to the level of fiscal policy of US. This year US deficit will be 1.4 trillion dollar.

There was a deadline of august 2 to raise 14.3 trillion dollar cap on borrowing of government. There is a warning of US treasury about shortage of money in case there is no increase in debt ceiling by then.

Obama briefed reporters after a span of 90 minute talk with leaders of congress. He further said negotiators will work throughout week in order to find bottom line of each side. He said there will be another talk round with speaker john Boehner, law makers and top US republicans. This will be “the hard bargaining that’s necessary to get a deal done.”

Boehner said, “Everybody acknowledged that there’s going to be pain involved politically on all sides but our biggest obligation is to make sure that we are doing the right thing.”

Pelosi said elderly and poor will bear brunt of budget cutting.  She said, “We are not going to balance the budget on the backs of seniors, women and people with disabilities.”

A Republican Party aide said, “Whether or not it happens is really dependent on whether they (Democrats) continue to insist on tax hikes.”