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Fiscal Cliff Talks Appear to be Stalled

Posted at: 12/12/2012 9:06 AM

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WASHINGTON (AP) - House Minority Leader Nancy Pelosi says a bipartisan deal to avert a "fiscal cliff" is more likely if Democrats and Republicans don't try to over-reach on spending cuts.

The California Democrat tells "CBS This Morning" that Congress and the White House need to agree on a provisional plan for taxes and spending.

She says "Let's do something now." Pelosi adds the two sides should come together on a "down payment" on cuts to entitlement programs.

Pelosi says Democrats want to ensure that senior citizens aren't harmed. And she says Republicans are pushing too hard on a Medicare overhaul, asking, quote, "is it just a trophy that the Republicans want to take home?"

She says, "Get it done and make corrections and expansions on it next year."

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