Washington (CNN) - Republican Sen. Lindsey Graham of South Carolina on Sunday credited President Barack Obama with winning the "fiscal cliff" battle, but argued the final deal will likely do little to help the nation's deficit problem.
"The president will get a political victory, a trophy for the president politically, but it will not change our debt situation or reduce our deficit in any meaningful way," Graham told CNN. "It will be a political victory that is hollow in nature when it comes to preventing our country from becoming Greece."
The senator further criticized the president, blasting him for failing to take action "in a bipartisan manner" or "embrace big ideas like entitlement reform."
"He is really, quite frankly, small-minded in consequential times. I find him to be a hard guy to know and understand," he said.
His comments came after Graham declared on Fox News that the president has "won" the fiscal cliff negotiations, even though a final deal has yet to be announced.
"Hats off to the president - he won," Graham said.
"He stood his ground," the senator also said. "He's going to get tax rate increases, maybe not (for people making) $250,000, but on upper-income Americans."
With less than two days before the January 1 deadline to prevent major tax hikes and automatic spending cuts from taking effect, Senate leaders and senior staff are hunkering down on Capitol Hill to come up with a deficit-reduction plan that can pass both chambers.
Graham said if Senate Minority Leader Mitch McConnell can get a majority of Republicans to sign on to the final deal in the Democratic-controlled Senate, then the bill has a strong chance in the House.
"I think you will get a majority of Republicans and a majority of Democrats in the House, if you can get 60% of the Republicans in the Senate," he said on Fox.
At issue is disagreement over extending the Bush-era tax cuts for the wealthiest Americans. Obama and Democrats say the tax cuts should expire on households making more than $250,000, while Republicans maintain the tax breaks should be continued for all Americans.
The Senate convenes at 1 p.m. ET Sunday, and the House could hold votes as early as 6:30 p.m. ET
Graham said he's in favor of getting a deal passed, though he may be holding his nose if that deal includes any sort of tax increases.
"I want to vote for it, even though I won't like it, because the country has got a lot at stake here," he said.