DeMint also said that while he didn't fully agree with Paul — especially on foreign policy — rejecting libertarian ideology would prevent Republicans from regaining majority party status.
"If Republicans don't understand the important aspects of what Ron Paul is saying, we won't be able to exist as a party, certainly not a majority party," DeMint said. "The debate in the Republican Party needs to be between libertarians and conservatives, that's what our party needs to be about. There's no longer room for moderates and liberals because we don't have any money to spend, so I don't want to be debating with anyone who wants to grow government."
DeMint also said that Paul, Romney or any of the leading GOP candidates would be a suitable candidate.
"I think they'll all do the job. … I'd feel good about any of the top three or four getting in there," DeMint said.
But DeMint emphasized that this election was the "last chance to save our country" and that a full Republican sweep of the House, Senate and White House was necessary.
"I'm afraid the country is just focused on the presidency when if the Senate stays how it is, nothing will change," DeMint said.