Republican Senator Lindsey Graham said that chances for a small "fiscal cliff" deal in the next 48 hours were "exceedingly good" and that President Barack Obama had won.
"I think people don't want to go over the cliff if we can avoid it," Graham told Fox News today.
"This deal won't affect the debt situation, it will be a political victory for the president and I hope we'll have the courage of our convictions when it comes time to raise the debt ceiling to fight for what we believe as Republicans, but hats off to the president, he won."
America's financial crisis has been averted, not solved. We've had the fiscal cliff. Now get ready for the debt abyss.
Democrats and Republicans have so far failed to agree on an alternative plan to the tax increases and spending cuts scheduled for January 1.