“We need to get our fiscal house in order,” Davis said.

Both want to eliminate the estate tax, which currently applies to estates of more than $2 million, because of concern about its impact on farmers and business owners. Day said he would delay even that until after deficit spending is addressed. Davis would at least like to raise the ceiling under which estates are exempt from the tax.

Davis said the Bush tax cuts — and potential future tax reductions — can exist within balanced federal budgets if spending is brought under control and measures are taken to boost the health of the economy. The first step is to reduce the price of energy, which he calls “the lifeblood of our economy.”

Day believes the deficit has to be dealt with on the spending side, not through tax increases. He said his history in state and local government has convinced him that tax hikes don’t solve government budget problems, they just prompt more spending.