The Strip-o-Gram library looks quite nice. I haven't checked it out properly, but it looks like it does things well (i.e. can whitelist HTML tags you specify, as well as HTML-escaping anything nasty).
Here's the example usage snippet, quoted from that page:
from stripogram import html2text, html2safehtml
mylumpofdodgyhtml # a lump of dodgy html ;-)
# Only allow <b>, <a>, <i>, <br>, and <p> tags
mylumpofcoolcleancollectedhtml = html2safehtml(mylumpofdodgyhtml,valid_tags=("b", "a", "i", "br", "p"))
# Don't process <img> tags, just strip them out. Use an indent of 4 spaces
# and a page that's 80 characters wide.
mylumpoftext = html2text(mylumpofcoolcleancollectedhtml,ignore_tags=("img",),indent_width=4,page_width=80)
Hope that helps.