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Eric Cantor says he isn't against closing tax loopholes...he's just against using the revenue that closing them would produce for deficit reduction. Instead, he wants to use the increased revenue to lower taxes:

If the GOP sticks to this position—that a deficit deal must not include any net increase in revenues—there's no way to get a deal done. And the mere fact that we're still fighting over something this basic underscores the pure insanity of putting Social Security benefit cuts on the table.

Until Republicans agree to make revenue a part of the deal, we're essentially negotiating with terrorists. And when you're negotiating with terrorists, you don't sweeten your offer. You walk away. The White House says The Washington Post's report about Social Security cuts "overshoots the runway," but if Social Security cuts are an airplane, it's an airplane that shouldn't be allowed to land.

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