Here are some details being reported:

POLITICO: “White House debt talks were described at the ‘fish-or-cut-bait’ stage Thursday night, as President Barack Obama and House Speaker John Boehner sought to keep alive an estimated $3 trillion deficit-reduction package already taking fire from the left and right. Budget director Jack Lew received a fierce, angry, even screaming reception at the Senate Democratic Caucus, and Democratic congressional leaders were called to the White House to meet with the president for nearly two hours Thursday evening. ... The size of the revenue target is still a sticking point, as is the mechanism to ensure that the needed legislative changes — for tax and entitlement reform — get done before this Congress ends.”

The Washington Post: “Democrats reacted with outrage as word filtered to Capitol Hill, saying the emerging agreement appeared to violate their pledge not to cut Social Security and Medicare benefits as well as Obama’s promise not to make deep cuts in programs for the poor without extracting some tax concessions from the rich. When ‘we heard these reports of these mega-trillion-dollar cuts with no revenues, it was like Mount Vesuvius. . . . Many of us were volcanic,’ said Sen. Barbara A. Mikulski (D-Md.).”

The AP: “The Democratic officials said the negotiations focus on immediate cuts to day-to-day operations of government that are financed at Congress' discretion. The legislative work to cut entitlement programs such as Medicare and Medicaid and to overhaul the tax system would have to be carried out over the next six month to a year, the officials said.”

The New York Times: “The White House wants a trigger that would raise taxes on the wealthy; Mr. Boehner wants the potential penalty for inaction to include repeal of the Obama health care law’s mandate that all individuals purchase health insurance after 2014. Officials on all sides of the tense negotiations warned that no firm deal to raise the nation’s $14.3 trillion borrowing ceiling was in hand, and tried to play down progress — if only to stave off attempts to change the deal’s shape or to kill it by hard-liners on both sides of the debate.”

The Wall Street Journal: “Officials from credit rating and financial services firms told House Republicans, in a closed-door meeting Thursday, that if the government's debt is downgraded, it would result in severe consequences for Main Street.”

Bloomberg: “Questioned by Reid, Lew told Democrats he isn’t aware of any agreement, said independent Senator Joe Lieberman of Connecticut, who caucuses with the Democrats. Still, some Democrats are concerned they are being left out of the deal- making with Boehner, he said.”

The Los Angeles Times: “The spending cuts would probably affect every federal agency as well as programs like Medicare and Social Security that Democrats have fought to protect throughout debt negotiations.”