There is no clear literary allusion for this in the Old Testament. Perhaps Jacob was recalling Jeremiah at this point, however, as Jeremiah includes both the reference to the circumcision of the heart and to a liar:
Jer. 15:18 Why is my pain perpetual, and my wound incurable, which refuseth to be healed? wilt thou be altogether unto me as a liar, and as waters that fail?
Jeremiah is not condemning the liar to hell as does Jacob, but certainly disdains the liar "as waters that fail." Thus there is no salvation in the liar, for the continuing substance is not there.
Another possibility, however, is that the condemnation of the liar is based on the decalogue's injunction against bearing false witness. This possibility is strengthened by the more obvious references to the decalogue in the next three verses.
It is certain that Jacob is not here speaking of those who tell the small falsehoods of life that might be required in social settings. It is more likely that Jacob echoes the problem that Jeremiah has with the liar, that one who will lie (also to themselves) has no sustaining power. As waters that fail, the promise is there, but there is no nourishment. Those who promise to live according to the commandments, and do not, find in the promise no validation.