WASHINGTON (AP) — Sen. John McCain says he'll vote for compromise legislation averting a government default, although "I will probably have to swallow hard."

The Arizona Republican who lost to Barack Obama in the 2008 presidential election says he's concerned about the impact of the deficit-reduction deal on defense spending.

But McCain also tells CBS's "The Early Show" that officials in Washington realized "we were not going to let the government shut down."

He also says that while he's worried about the Pentagon budget, he believes the new, special committee that will be established to follow through on promises of deficit-reduction will be more successful than similar panels established for this purpose in the past.

McCain notes the new panel will have the authority to order "up or down votes" on proposed cuts.