"The real answer is to cut spending now, and to make any increase in the nation's debt ceiling contingent on Congress sending to the states a balanced-budget amendment that limits federal spending to one-fifth of the American economy," Pence said on the House floor. "In short, it's time to let the states decide."

Pence said cutting spending now and moving an amendment to balance the budget to the states would be one way of handling the debt crisis in both the short- and long-term. Passage of an amendment to the Constitution often takes several years, as it requires ratification by three-fourths of state legislatures after being approved by a two-thirds majority in both the House and the Senate.