After unsuccessful attempts to resolve a budget plan that would cut $33 billion from current spending, the White House directed government agencies to face a temporary shutdown if the U.S. Congress does not pass a budget plan before midnight on Friday, reports Andy Sullivan for Reuters. While the new found prudence in budgeting may be a step in the right direction, the country still faces a deficit that is projected to hit $1.4 trillion this year.

Democrats want to preserve scientific research and education while reducing $2 billion in defense and security, whereas Republicans want increased discretionary cuts each year and reduce funding to dozens of priorities spearheaded by the Obama administration. [Treasury ETFs: Bill Gross Talks Book On Bonds].

MF Global analyst Chris Krueger, though, stated that their “odds remain above 50% that the government will not shut down on Saturday.”

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Max Chen contributed to this article.