WASHINGTON (AP) — A Republican senator who helped foster the tea party movement is throwing cold water on a proposal by the Senate's GOP leader to give President Barack Obama new power to ask Congress to increase the government's borrowing limit.
South Carolina Sen. Jim DeMint tells CBS' "The Early Show" Wednesday that the idea from Kentucky Sen. Mitch McConnell isn't something he likes.
DeMint says "Republicans weren't elected last November to make it easier to spend and borrow and add to our debt."
Obama and congressional leaders are discussing how to avoid a government default threatened for Aug. 2.
Under McConnell's plan, Obama could request increases of up to $2.5 trillion in borrowing authority in three installments over the next year, as long as he simultaneously proposed spending cuts of greater size.