Sen. Lindsey Graham (R-S.C.) offered a bleak outlook Sunday on the negotiations over the looming "fiscal cliff," saying he thinks "we’re going over the cliff," at least based on the White House's initial proposal to Republican congressional leadership on the matter.
"I think we’re going over the cliff. It’s pretty clear to me they made a political calculation. This offer doesn’t remotely deal with entitlement reform in a way to save Medicare, Medicaid and Social Security from imminent bankruptcy. It raises $1.6 trillion on job creators that will destroy the economy and there are no spending controls," Graham said on CBS's "Face The Nation."
Graham had signaled a willingness to violate Grover Norquist's anti-tax pledge to avert the "fiscal cliff" if Democrats made an effort to reform entitlements. But he said Sunday the White House's plan for entitlement reform was laughable.
"I'm serious about revenue," Graham said. "You can limit deductions to $40 or $50,000 a person, which takes care of the middle class. Upper income Americans will lose their deductions, and raise about $800 billion of revenue. But I’ll only do that if we do entitlement reform, and the president’s plan when it comes to entitlement reform is just, quite frankly a joke."