If the Democrats don't want Medicare or Social Security reform - and they don't - they are going to have to raise taxes.
Nancy Pelosi said as much on Face the Nation today:
House Democratic leader Nancy Pelosi isn't ruling out pushing for upper-income earners to pay more even after the "fiscal cliff" deal that raised their taxes.
She tells CBS' "Face the Nation" that "I'm saying that's not off the table." The California Democrats isn't getting into specifics but she does discuss changes to tax law that might involve deductions and other breaks.
The former House speaker also says the current Republican Party isn't the "Grand Old Party that did so many things for America that commanded so much respect." She says the country needs a strong GOP but she describes the current party as a "really over-the-edge crowd" that's dominated by an element of "anti-government ideologues" committed to opposing President Barack Obama.
Mitch McConnell has drawn a line in the sand on further tax increases which sets up another major confrontation in advance of talks on the debt limit.
Obama may try his song and dance about a "balanced" approach to deficit reduction, but the Senate Minority Leader said "The tax issue is finished, over, completed." Will he stick by that pledge? Recent history gives us little confidence he will.
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