Michele Bachmann Shifts Stance On 'Cut, Cap And Balance' Pledge

Republican presidential contender Michele Bachmann is taking to South Carolina on Monday to sign her name to a "Cut, Cap and Balance" pledge, which which entails opposing any debt limit increase without significant spending cuts, enforceable spending caps and congressional approval of a balanced budget amendment.

The conservative congresswoman initially held off on throwing her weight behind the pledge, suggesting that it doesn't go far enough.

Conservative favorite Sen. Jim DeMint (R-S.C.) has signaled that not supporting the pledge is a "dealbreaker" for earning his support in the next election cycle. After Bachmann first declined to get behind the measure, DeMint said during an appearance on CNN that he was disappointed with the presidential hopeful's posture toward the document.

Bachmann, who has already cast a vote against raising the debt ceiling, made clear that she has no intention of changing her position on the fiscal issue in her first television campaign ad of the election season. "I will not vote to increase the debt ceiling," she says in the 30-second spot.

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