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Sen. Kent Conrad Hopes For "One Last Attempt" At Deal On Fiscal Cliff

CHRIS WALLACE, "FOX NEWS SUNDAY" HOST: So, let me just ask you, Senator, briefly, what would that mean? What would the level be for taxes for revenue? How much would be raised in revenue, and, what would it mean in new spending cuts?

SENATOR KENT CONRAD (D-ND): The spending cuts would be $1,450,000,000,000. The revenue would be $1,150,000,000,000. So, you see there, that's a combination of $2.6 trillion. And you couple that with the $1.1 trillion that's already done, and, you are at $3.7 trillion.

And, look, is it perfect? No. Is it everything we hoped for? No. Does it match what Bowles-Simpson did? No.

At an even comparison, Bowles-Simpson would be $5.3 trillion.

WALLACE: All right. You're in the weeds.

Let me ask you one last quick question. Are you saying that you don't like the president's plan?

CONRAD: Look, it may come to that. But I would hope we'd have one last attempt here to do what everyone knows needs to be done, which is the larger plan that really does stabilize the debt, and get us moving in the right direction and, does it in a way that is cognizant that we have an economy that is recovering, that is still weak and, we don't slam it. We don't slam on the brakes here in a way that puts us back into recession. That -- takes the jobless rate to 9.1 percent.

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