Ron Paul is First GOP Presidential Candidate to Sign 'Cut, Cap and Balance' Pledge

On Tuesday, U.S. Rep. Ron Paul of Texas, who is running again for the Republican presidential nomination, signed the Cut, Cap and Balance pledge which opposes raising the federal debt limit. The pledge is backed by a number of prominent conservative organizations, including FreedomWorks, Club for Growth and the Family Research Council.

We are facing an unprecedented debt crisis, and the prospect of it becoming even worse is on the horizon if we do not deal with our federal governments spending problem, said Jesse Benton, the chairman of Pauls campaign. It would be a disaster to wait until we reach the point where Greece and other European nations are before trying to tackle these tough issues. Americans want our country to change course immediately. We can no longer afford a reckless federal government that wastes money, endangers our security by borrowing from other nations, and puts us further into debt to advance an anti-liberty agenda.

Paul is the first GOP presidential hopeful to sign the pledge. Former state House Majority Leader Adam Hasner, who is running in a crowded Republican primary to take on Florida Democrat U.S. Sen. Bill Nelson, also signed the pledge.