Alan Simpson: 'The Drinks Are On Me' If Taxes For The Rich Don't Go Up (VIDEO)

Former Sen. Alan Simpson (R-Wyo.) added some buzz to the fiscal cliff conversation on Sunday.

In an appearance on CBS' "Face The Nation," Simpson vowed that he would bet a bar tab on a tax increase for the wealthiest Americans.

"If anybody out there who's quote "rich" doesn’t think their taxes will go up, the drinks are on me," he said. "I'll cover it."

Simpson has been an ardent critic of Democrats and Republicans' inability to reach an agreement that will avoid the fiscal cliff. He told the "Today" show on Wednesday that Congress "put the chain on their own ankle."

Appointed in 2010 as co-chair of President Barack Obama's Commission on Fiscal Responsibility and Reform, Simpson has advocated for a mix of revenue and cuts to remedy the United States' monetary issues.

"You can't grow your way out of this hole, and you can't tax your way out of this hole," he said in May 2012. "So put that in your pipe and smoke it, we tell these people. This is madness."