Pawlenty Campaign Press Release - Gov. Tim Pawlenty To Sign Cut, Cap, Balance Pledge

Governor Pawlenty released the following statement today after being the first 2012 presidential candidate to sign the Cut, Cap, Balance pledge.

"I am encouraged by this measure that underscores the dire need to cut spending and balance the budget. Like my economic plan, this pledge will serve to reverse decades of Washington's fiscal mismanagement," Gov. Pawlenty said. "Washington has continued to kick the problem of out-of-control spending down the road. President Obama's economic policies have failed and his Administration has racked up historic burdens of debt for future generations. As president, I would significantly cut federal spending, enforce a spending cap, and pass a Constitutional amendment to balance the budget, so I obviously support congressional leaders who are trying to do that now."

Gov. Pawlenty recently unveiled his economic plan, 'A Better Deal,' at a speech at the University of Chicago where he proposed a constitutional amendment to balance the budget with a federal spending cap of around 18% of GDP. Earlier this year, he warned against raising the debt limit and urged others to reform entitlement spending in this Washington Post Op-ed. Gov. Pawlenty cut state government spending in real terms for the first time in Minnesota's history and balanced the budget every year during his two terms.