David Gergen actually said...
I think to raise taxes now, first of all, would be bad economics, with a recession still under way and high unemployment. But, secondly, I think the political price of doing that now would be just horrendous, and Democrats would lose badly in the 2010 elections.
Context
Gergen discusses the potential negative consequences of raising taxes during a recession, particularly for the Democratic Party in upcoming elections.
08/02/2009