

South Carolina Republican Jim DeMint calls it "a political trophy" within Obama's grasp. Appearing Thursday on "CBS This Morning," DeMint says, quote, "The president's proposal is not a plan, it's not a solution."

Asked why Obama and congressional Republicans can't agree on a plan to avert a fiscal cliff in less than three weeks, DeMint says both political parties have "failed" the country.

On Obama, the senator says, "He's going to get his wish. I believe we're going to be raising taxes and not just on the top earners."

DeMint is stepping down from the Senate to become president of the Heritage Institution, a conservative think tank.