NEW : Obama 's spokesman says he should give details of his proposal . Obama , McCain , Pelosi and McConnell will meet at the White House on Friday . The Senate returns to work ; the House will be back in session Sunday . On Wednesday , Treasury Secretary Timothy Geithner told Congress the government would reach its borrowing limit at year 's end , but could take steps to create what he called `` headroom '' for two months or so . Without a deal , taxes go up and spending is slashed in the new year .
NEW : Obama 's spokesman says he should give details of his proposal . Obama , McCain , Pelosi and McConnell will meet at the White House on Friday . The Senate returns to work ; the House will be back in session Sunday . Without a deal , taxes go up and spending is slashed in the new year .