A joint resolution proposing an amendment to the Constitution of the United States to provide that expenditures for a fiscal year shall neither exceed revenues for such fiscal year nor 19 percent of the Nation's gross national product for the last calendar year ending before the beginning of such fiscal year.

Constitutional Amendment - Prohibits Government expenditures for any fiscal year from exceeding: (1) its revenues in such fiscal year; or (2) 19 percent of the gross national product for the last calendar year ending before such fiscal year. Permits the Congress to suspend such prohibition for any fiscal year in which a declaration of war is in effect or whenever three-fifths of the total membership of each House deem it necessary.