WASHINGTON (AP) — President Barack Obama says there are multiple ways to resolve an impasse in Congress that threatens to put the U.S. in default next week, but it has to be bipartisan and it has to happen fast.

The president urged Democrats and Republicans in the Senate Friday to come together on a plan to raise the country’s borrowing authority that can pass the House and that he can sign.

[MSNBCMSN video=”http://www.msnbc.msn.com/id/32545640″ w=”592″ h=”346″ launch_id=”43943986″ id=”msnbc323203″]

Visit msnbc.com for breaking news, world news, and news about the economy

He spoke at the White House as a bill by Republican House Speaker John Boehner to lift the debt ceiling and slash spending remained unexpectedly stalled after Boehner failed to muster the necessary votes. Obama said, “We’re almost out of time.”

Republicans were set to try again Friday and Senate Majority Leader Harry Reid announced plans to move forward on a rival measure ahead of the Tuesday deadline to act or face unprecedented default.

Copyright 2011 The Associated Press.