“There’s a big downside if we fail – and a tremendous upside if we succeed.”

That’s how Senator Warner summed up the current situation in Washington as Congress and the White House discuss ways to avoid the looming fiscal cliff – the combination of defense spending cuts and the expiration of tax cuts set to occur simultaneously at the beginning of the new year. Senator Warner spoke about the issue today with Cathy Lewis, host of the HearSay call-in program on Norfolk’s WHRV-FM.

Callers also asked Senator Warner about tax reform, financial regulation, and the Senator’s thoughts on perhaps running for a another term as Virginia Governor next year.