Break the spend-and-borrow cycle

As governors of states whose residents, like all Americans, are desperate for the restoration of fiscal responsibility in Washington, we are proud to have signed the “Cut, Cap and Balance Pledge” amid the debate over once again raising the federal debt ceiling.

We oppose an increase in the federal debt limit unless three common-sense conditions are met: substantial cuts in spending; enforceable spending caps to put the country on a path to a balanced budget; and congressional passage of a balanced-budget amendment to the U.S. Constitution. That amendment should include a requirement for a congressional supermajority to approve any increases in taxes.

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