Obama aide: Next debt deal will require more tax hikes, entitlement cuts

President Obama's top economic adviser, Gene Sperling, says Republicans should accept more revenue-raising in the next debt and deficit deal.

"The president is not suggesting that in this next round of deficit reduction it all be on revenues," Sperling said in an interview taped on Tuesday with Reuters TV's "Impact Players."

"He's just suggesting that we continue to do it in a balanced way so that our overall agreement really is about two dollars in spending cuts for every dollar in revenue." [...]

Sperling sketched out the broad outline of a possible deficit-reduction deal that would involve higher taxes along with spending cuts on social welfare programs, including the federal health insurance program for the elderly and the Social Security pension plan. In Washington these programs are called "entitlements."

That's in response to Sen. Mitch McConnell insisting that the issue of tax hikes is over and done after the fiscal cliff deal, and that "it's time to pivot and turn to the real issue, which is our spending addiction." Spending cuts, of course, are offered up yet again by Sperling, and, of course, its earned benefits again'Social Security and Medicare. As if dangling it out there time and time again has actually worked to bring Republicans to the negotiating table with any good faith offers.

Here's a suggestion for Sperling and other White House negotiators: Get your revenue and shore up Social Security without making benefits cuts, as Barney Frank has outlined.