Cliff Rumors Start Early As Lindsey Graham Says "Obama Has Won"

Tyler Durden's picture

As largely expected, Sunday would be a day marked by rumors, anti-rumors, headfakes, jukes, denials, counter-denials, and much more groundless speculation if zero facts, however without an open market reacting to every single headline like a collocated stung dog. Sure enough, in the first such rumor of the day, we just had Republican Senator - a long time opponent of the Norquist tax pledge - Lindsey Graham, pushing for his agenda in the same way that the Greek finance ministry would unleash perfectly wrong rumors to the FT and Reuters, who said on Sunday that chances for a small "fiscal Cliff" deal in the next 48 hours were "exceedingly good" and that President Barack Obama had won: i.e., taking an opinion and making it fact - something seen so often in the European negotiating tactics. "I think people don't want to go over the cliff if we can avoid it," Graham said on Fox News Sunday. Of course, how Graham views the world, and how potentially filibustering Senators do, not to mention the majority of Congress do, is a totally separate matter.

"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," Graham said.

And hats off to Graham for speaking for himself if not anyone else. As to whether the president has won, tune in much later today after the emergency Congressional meeting takes place late Sunday, and especially after tomorrow's follow up GOP meetings. Something tells us Graham will be, five days ahead of Boehner's reelection vote, dead wrong.

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Everyman's picture

Lindsey Graham is one of the biggest Pieces of Filth on that GD hill!  What a pathetic POS!

GetZeeGold's picture



We''re all Greeks now!

ratso's picture

Unfortunately many of the financial issues now miring the political process are more about defeating Obama then about finding the best course for America and for all Americans.

Snarky pomposity has never advanced anything other than writer's sense of his own ego.  There's an endless amount of that on ZH. It's really rather childish and boring.

Pinto Currency's picture


This is all just grade school theater before the hurricane.

There is a strong wind starting to blow and these twits don't fully understand the consequences.

Manthong's picture

All aboard!

We know where this little trip will take us.

How many degrees from Ozzy is Obama?

Pegasus Muse's picture

"Lindsey Graham is one of the biggest Pieces of Filth on that GD hill! What a pathetic POS!"

We would be remiss to not acknowledge John "Darth Vader the Traitor" McCain and his good buddies, Lindsey Graham, Joe Lieberman and Phil "Banksta Boy" Gramm's contributions to Amerika's devolution to a crony capitalist totalitarisn state:

McCain, Lieberman and their baby - NDAA:

McCain & Lindsey Graham on NDAA: 

Phil Gramm:  Where is the scumbag now?: 


derek_vineyard's picture

ratso---  you made your point about ego, but adding the sentence 'its rather childish and boring' shows that you are extremely driven by ego; because personal attacks are the most blantant form.  many philosophies teach reduction/elimination of ego as a linchpin of a meaningful existence.

i come here because i am frugal and i clearly see the insanity of overspending and debt and enjoy reading about this topic and the consequences/forecasts.


ratso, the recognition of your own ego is the first step in letting it go.  but its also okay if you choose to remain ego driven.

eatthebanksters's picture

I would like to know where Lindsay Graham get his marching orders...

tango's picture

"Graham get [sic] his marching orders" from: (1) 1% crowd, (2) rich bankers, (3) evil Jews/Zionists, (4) the secret cabal not so secretly running the world (and doing a pisspoor job of it) or (5) Wall Street.   There, I've about covered the usual culprits on this board.

monoloco's picture

Obama and the Democrats have won the chance to arrange the deck chairs how they want, it doesn't matter though, the Titanic's still going down.

ISEEIT's picture

Read my mind much?


Drawn and quartered would be much more entertaining.

FMR Bankster's picture

Now, now, you just don't understand Washington. Let me explain.The federal goverment is going to spend more money next year than this year but that's a spending cut because someone made them spend less than they wanted. However, if taxes stay exactly the same next year as this year that's a huge tax cut. (especially for the wealthy) Meanwhile the Potus just signed an executive order to make sure all federal gov'ment employees get another pay increase. The Senate was busy as well, passing a $60 billion "Hurricane relief" bill to cover the $20 billion in infrastucture costs not covered by insurance. Of course huge amounts of that money goes to people who don't live within a 1000 miles of where the hurricane hit. Understand now?

Joshua_D's picture

FU Lindsey! FU Boner! FU Obama! FU Reid! FU Pelosi!

Oh, and FU Feinstein!

And ... FU Bernake!

ratso's picture

If you are trying for alliteration, you did not succeed very well.  Maybe poetry is not your forte.

tango's picture

And this is the sum of your thoughts on this possibly historic event?  I can only thank my lucky stars that the Founding Fathers did not have this attitude. 

Goner's picture

I think they did have this attitude but I maybe mistaken. You can read about it in a few places but here is a helpful hint

spondoolix's picture

Everyman:  Which members of Congress have your endorsement?

FL_Conservative's picture

A douche in a suit, if there ever was one.

DosZap's picture

Don't forget McCain, War hero, now traitor.

kliguy38's picture

Just the name of Lindsey Graham makes me nauseated....what has this country become when a scumbag like that becomes a U. S. Senator? Nevermind ....we already know that answer.

maxmad's picture

Mods ban that -1 bandit!  They are an obvious shill!

mrdenis's picture

The only Senator who was a bigger scumbag ....Corzine 

Everyman's picture

Maybe, but you have to talk about that asshole HARRY REID.  The guy that has held up budgets for 1300 days, illegally  I might add.

icanhasbailout's picture

At  least we know Lindsey isn't going to get a lawyer.

Vagabond's picture

Seriously, If I could wish him dead he'd already be hanging.

I am Jobe's picture

Pussy Lindsey Grahma and his charade about the NDAA. Hang them all

11b40's picture

But he owns a Bushwhacker :-)

Everybodys All American's picture

I doubt Lindsey Graham knows even what the deal is let alone if it will pass either House of Congress.

Landrew's picture

Have you ever held or sat in a meeting where a small subset of people want to talk trivial facts for hours because it's easy? I learned a long time ago to cut that off immediately before it takes hold. Seems CONgress is in an endless discussion about the number 16.4 ha!

Stud Duck's picture

Ditto, a retired Insurance Ex in charge of a Special Investigative Unit for a large insurance company.

The system has collasped we just don;t know it yet, we are past the point of no return, the management class at these large corps are without a clue. just wrapped up in their own world of themself, no feeling for the people that they are in charge of, only their own path of promotion only.

WE ARE SCREWED, face it !

jumbo maverick's picture

Yes there is usually one or two fuckheads in the meetings. They will always try to talk over everyone and dominate the meeting even when they are not in charge.
So near the start of the meetings I get up and say excuse me I need to use the bathroom and I leave. I don't go back to the meeting. They don't miss me and my time ain't waisted.
Fuckheads everywhere. Like stepping in dog crap. Capitol hill is one big gathering of fuckheads. And they are all walking around with dog crap on their shoes saying "Do you smell anything fuckhead?" then the other fuckhead says back "well I do smell something fuckhead but I can't figure out what it is"

Cdad's picture

The President will take to the airways shortly, and he will offer his compromise once again.  Raise taxes...the end.  It will be tough to rumor that away.  And never mind that, even if every Republican caved in and voted to raise taxes on quarter millionaires through billionaires, it won't even come close to addressing the underlying problem.

Hello Moody's. 

GetZeeGold's picture



Raising taxes should pay our way for the first week.....not sure where the money is going to come from after that.

GMadScientist's picture

Bang on; none of the proposals from either side would make a dent in anything other than short-term prospects for astro-turf shoots.


Karlus's picture

Obama: I've offered to them multiple times to raise taxes, and the Republican leadership keeps refusing my deal. It's their fault we are going over the cliff and raising taxes on hard working middle class families...heh heh heh

tradewithdave's picture

According to this 89 year old judge who has finally myth-busted aging and the metals manipulation in the swipe of a pen, we've all won.  Aging is a thing of the past and "ripping it up" is for everyone and everything, including the rule of law.

shovelhead's picture

“Because it is not clear that Plaintiffs’ Complaint is viable or that the CFTC’s lengthy investigation into Defendants’ conduct will result in any criminal action being filed, Plaintiffs’ motion to compel limited discovery is DENIED.”

 At least he got it half right.

fonzannoon's picture

I think they get a deal done. The Dems get taxes raised on everyone 250k and up. The repubs keep the debt ceiling in their pocket. Spending cuts get punted to the debt ceiling debate in March. Market celebrates everyone coming to their senses and avoiding immediate pain. Same as it ever was.


DoChenRollingBearing's picture

Indeed, fonz, The Fiscal Curb is just a speed bump.

(I wish I had coined that one, but "Nobody" did)

Spastica Rex's picture

And all negotiated at the last possible moment for maximum dramatic effect.


NoDebt's picture

That's what I'm thinking as well.  Taxes go up, spending does not go down, game continues.

If I've really "learned" anything from this fiasco and the previous debt ceiling fiasco is that markets will not react negatively to any impending precipice until 1 week before the deadline.  Which means if we get through this with a deal (no matter how bad) it'll be party time until 1 week before the next debt ceiling deadline in ~March.


Harbanger's picture

They can't put a "real" debt ceiling in place because this whole system it's based on debt.  Real spending never goes down.  A reduction in the amount of increase is considered a spending cut.  Here's the formula they use 2+2 = 3 + 1 from Ben

Sooth's picture

And for under-$200k/$250k earners, payroll taxes go up, health care insurance premiums go up, the Obamacare taxes kick in and weekly hours get cut to less than 30 to avoid the Obamacare fines for employers. 2013 should be the year of the incredible shrinking paycheck -- at least for most people outside the Washington DC beltway.

Even if the "fiscal cliff" gets avoided, there's the "fiscal abyss".

CrashisOptimistic's picture

But see, that's the MSM meme.

All you are talking about is taxes.  It is the Sequester that is the main event.  

Delay or let it occur.  It's not taxes that matter in the math.  It is the Sequester.  That can't be used in the debt ceiling fight upcoming because it was the outcome of the last debt ceiling debate.

PeeramidIdeologies's picture

Obama has his way, taxes up, and the market shits anyways. All those unprotected longs get slaughtered. Can I get a What, What?!