DeMint blasts both Dem and GOP debt plans

House Speaker John BoehnerJohn Andrew BoehnerDems face hard choice for State of the Union response Even some conservatives seem open to return to earmarks Overnight Finance: Trump, lawmakers take key step to immigration deal | Trump urges Congress to bring back earmarks | Tax law poised to create windfall for states | Trump to attend Davos | Dimon walks back bitcoin criticism MORE (R-Ohio) put forward a proposal Monday that would raise the debt ceiling by up to $1 trillion while making future increases conditional on a future deficit-reduction plan, as well as a vote on a balanced-budget amendment.

Meanwhile, Senate Majority Leader Harry ReidHarry Mason ReidDems search for winning playbook Dems face hard choice for State of the Union response The Memo: Immigration battle tests activists’ muscle MORE (D-Nev.) parried with his own package, consisting of $2.7 trillion in spending cuts and no increases in revenue.

DeMint maintained that the only package he is supporting is the "cut, cap and balance" plan that was passed by the House but shot down in the Senate.

"The bipartisan House-passed Cut, Cap & Balance is the only plan on the table that will ensure we keep our AAA rating and the only plan that will ever allow us to pay down our debt instead of perpetually increasing it," he said.

Meanwhile, blasted Reid's plan, calling instead for a package that includes revenue increases such as ending tax breaks for corporations and the wealthy.

"MoveOn members, and the great majority of Americans agree that any serious attempt to address the deficit and get our economy back on track must ask those at the top to pay their fair share — and that we must not reduce the deficit on the backs of the middle class and the poor," the liberal group said in a statement.

Watch DeMint below.