Fiscal cliff talks appear to be stalled

Associated Press
FILE - In this Tuesday, Dec. 11, 2012, file photo, House Speaker John Boehner of Ohio leaves his office and walks to the House floor to deliver remarks about negotiations with President Obama on the fiscal cliff, on Capitol Hill in Washington. Even if Congress and the White House fail to strike a budget deal by New Year's Day, reality may be a lot less bleak then the scenario that's been spooking employers and investors and slowing the U.S. Economy. The tax increases and spending cuts could be retroactively repealed after Jan. (AP Photo/J. Scott Applewhite)
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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" Wednesday 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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