After a year of deadlocked negotiations, at least one prominent Republican senator is willing to concede defeat.

In an appearance on Fox News Sunday, Sen. Lindsey Graham (R-SC) acknowledged that President Obama had stuck to his guns and would emerge from the debt talks victorious. Predicting that tax rates would rise on incomes over $400,000-$500,000, Graham said Obama had achieved his biggest goal of keeping tax rates down for the middle class while allowing them to revert to Clinton-era levels for wealthier Americans.