In an effort to encourage fiscal responsibility and prudence at the federal level, Utah Governor Herbert has signed the Cut, Cap and Balance pledge. Three other governors joined Governor Herbert: Gov. Rick Perry (R-TX), Gov. Nikki Haley (R-SC), and Gov. Sean Parnell (R-AK).
"Utah is leading the nation out of the recession with steady economic growth and job creation because we have consistently made tough decisions, kept taxes low, lived within our means and balanced the budget every year," said the Governor. "The federal government would do well to follow Utah's example."
The Governor also joined eight presidential candidates (Mitt Romney, Tim Pawlenty, Herman Cain, Ron Paul, Rick Santorum, Newt Gingrich, Thad McCotter and Gary Johnson), 29 Congressmen, 12 U.S. Senators, and over 110,000 citizens. The pledge, coalition, and current list of signatories may be found at http://www.CutCapBalancePledge.com.
This morning the coalition delivered letters to the remaining 46 Governors asking them to also sign the pledge.
The Governor's pledge states:
I, Governor Gary R. Herbert, pledge to oppose any debt limit increase unless all three of the following conditions have been met:
1. Cut - Substantial cuts in spending that will reduce the deficit next year and thereafter.
2. Cap - Enforceable spending caps that will put federal spending on a path to a balanced budget.
3. Balance - Congressional passage (not mere support) of a Balanced Budget Amendment to the U.S. Constitution -- but only if it includes both a spending limitation and a super-majority for raising taxes, in addition to balancing revenues and expenses.
If the above three-part balanced budget amendment is passed by Congress and sent to the states, I also pledge to do everything in my power to support ratification.