Does Obama and Boehner have a Debt Ceiling Deal Tonight?

It is being reported that Obama and Boehner have come to terms on the debt ceiling. According to reports the deal includes:

The deal begins with a short term increase of the debt ceiling, just a few days worth so the deal can be put in legislative language and passed.

Other component parts of the tentative deal include: 

• $2.8 trillion in deficit reduction with $1 trillion locked in through discretionary spending caps over 10 years and the remainder determined by a so-called super committee.

• The Super Committee must report precise deficit-reduction proposals by Thanksgiving.

• The Super Committee would have to propose $1.8 trillion spending cuts to achieve that amount of deficit reduction over 10 years. If that doesn't happen, across-the-board spending cuts would go into effect and could touch Medicare and defense spending.

• If the Super Committee fails, Congress must send a balanced-budget amendment to the states for ratification (at least according to Major Garrett, the ABC report is that there has to be a Balanced budget vote either way)

• The Super Committee is allowed to discuss spending cuts only...No net new tax revenue would be part of the special committee's deliberations.