Bipartisan 'Gang of Six' in Senate developing framework for deficit reduction

With President Obama calling for bipartisan talks to tackle the nation's budget problems, a group of influential senators from both parties is developing a framework that calls for higher taxes and limits on all categories of government spending. The plan is still in the works, but people with knowledge of the talks said the senators hope to present it soon after the week-long Presidents' Day recess so they can begin assessing its political support. The group, known informally as the "Gang of Six," began meeting last year soon after Obama's fiscal commission recommended an ambitious plan to reduce the deficit....