The Hill News

Former United Nations Ambassador John Bolton (R) warned conservatives Wednesday that not backing House Speaker John Boehner's (R-Ohio) deficit proposal could result in President Obama's reelection.

Bolton warned in a statement that the risk to the economy is too great to not support Boehner's plan.

President Obama could use the economic turmoil resulting from the defeat to his advantage "and achieve re-election" in 2012, Bolton said.

Senate Minority Leader Mitch McConnell (R-Ky.) also indicated earlier this month that Republicans would "help Barack Obama get reelected" if they allowed themselves to become complicit in a government default.

According to many, default is one possible result of not raising the U.S. debt ceiling by Aug. 2, the deadline set by the Treasury Department as the date the U.S. will exceed its borrowing authority.

Boehner's plan is "far from perfect" but Republicans are unlikely "to get anything ! better on the debt ceiling issue," according to Bolton.

He urged conservatives reluctant to sign onto Boehner's plan to view it, strategically, as "the maximum that can be achieved" in this particular battle.

"On this present issue, we have reached the culminating point of victory," Bolton wrote. "Let’s not throw it away."

A significant number of conservative Republicans have said they cannot vote for Boehner's two-stage plan because it does not condition raising the debt ceiling on immediate cuts in spending, annual spending caps and a balanced budget amendment.

Boehner's plan would allow for an immediate short-term increase in the debt ceiling while spacing out spending cuts over the next few years.

Bolton released the statement through his non-profit, advocacy group Decide America. Bolton founded the organization this month with the goal of increasing the level of dialogue about national security, specifically re! garding the 2012 elections.

"All conservatives, esp! ecially those concerned about national security, should support Boehner Plan," Bolton said.

Bolton, who has flirted with the idea of running for the Republican presidential nomination in 2012, served as ambassador to the U.N. from August 2005 through December 2006 for former President George W. Bush.