Senator: "Ninth inning" debt deal will get done

The tense debt negotiations on Capitol Hill have entered the "ninth inning" but there is enough common ground to reach a compromise, a Democratic senator said Saturday.

Appearing on CBS' "The Early Show," Sen. Amy Klobuchar, D-Minn, said that the gridlock over debt legislation required to avoid a first-ever default is fraught with "political posturing" but the gap between the GOP and Democrat plans is not too wide to overcome.

"The cuts are nearly identical, over $1 trillion in cuts, plus Senator Reid has added an additional $1 trillion," she said. "I think that is a very positive piece of this that we're not widely different in the kinds of cuts we're looking at."

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Klobuchar added that both bills have caps on spending and an enforcement mechanism to ensure "there's going to be further cuts."

Klobuchar, a first-term senator, said she was "appalled" by the political posturing in D.C. over the issue but dismissed the idea that a deal could not be struck by August 2.

"We're down to the real nuts and bolts of this. It has to get done. I've heard from CEOs in my states, two snowmobile companies want to get this done, General Mills, I've heard from families all over the states, how can this happen?" she said. "Procedurally, while it's difficult it can get done. We plan on having a ... vote in the Senate today so we can keep that clock moving and negotiations are so important today to get this done for our country."