rules.

Here's the bad news:

Top White House officials, including budget director Peter Orszag, met Tuesday with Senate Budget Committee Chairman Sen. Kent Conrad to discuss establishing such a commission, which has been pushed by Mr. Conrad, a North Dakota Democrat, and his Republican counterpart on the committee, Sen. Judd Gregg of New Hampshire. Senior congressional officials said the idea was gaining traction. Two officials said the White House was likely to make its own proposal for a panel, which could have less power than the proposed Conrad-Gregg commission. White House aides said no final decision had been made. The idea is to bring Republicans and Democrats together to make tough decisions about how to cut costs or raise revenue in areas including Social Security, Medicare and taxes. For thewith the goal of long-term budget responsibility. The American people are likely to view any kind of expedited procedure, where most members are sidelined to a single take-it-or-leave-it vote, as a hidden process aimed at eviscerating vital programs and productive investment.

This fight could reach the boiling point soon, as Conrad and his gang are holding the threat of killing legislation to raise the debt ceiling--must pass legislation before the end of the year, or American defaults on its debts--to get their commission. These "fiscal conservatives" are in a game of chicken--unleash potential economic catastrophe by allowing the the US to default--in order to reach their end goal of slashing Social Security and Medicare. Pelosi needs to hold her ground, and be joined by Reid and Obama, to put