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NEW YORK ( TheStreet) -- What does Jim Cramer really think about the state of affairs in Washington? He told Debra Borchardt at TheStreet.com Thursday the fiscal cliff negotiations are a "fiasco," and things remain totally hopeless in Washington. Cramer said he's still holding out hope for a deal, but that deal likely won't come until football's Super Bowl in late January. By then everyone will have gotten a paycheck that includes higher taxes and will be outraged. Investors just need to understand that Washington has a negative effect on P/E ratios, said Cramer. The markets will go on, he concluded, but they'd be a lot higher with a budget deal in place. To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Scott Rutt in Washington. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC