President Obama is only backing the Gang of Six deficit-reduction proposal because Republicans are on the offense with a plan of their own Sen. Jim DeMint (R-S.C.) said.

"I don't know enough about the Gang of Six proposal but I do know the only reason the president is stepping up and saying he might support this is that Republicans are now on the offense with a plan that would increase the debt limit in a way that Moody's and S&P would recognize as credible longterm deficit reduction," DeMint said Tuesday on Fox Business Network.

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