President Barack Obama and congressional leaders began a fresh attempt to reach agreement on raising the U.S. debt cap, with a potential framework for a deal emerging two days before a threatened default deadline. The White House and congressional Republicans have sketched out the contours of an agreement to increase the nation’s $14.3 trillion debt ceiling that would raise borrowing authority through the next presidential election, a person familiar with the talks said late last night. The tentative framework includes immediate spending cuts of $1 trillion and creation of a special committee to recommend additional ... (full story)