Proposing an amendment to the Constitution of the United States requiring the submission of balanced Federal funds budgets by the President and action by the Congress to provide revenues to offset Federal funds deficits.

Constitutional Amendment - Requires the President to submit a balanced budget to the Congress. Prohibits the Congress, whenever aggregate Federal expenditures (excluding those from trust funds) exceed aggregate Federal receipts (excluding those of trust funds) for any two-year period, from passing any measure appropriating money out of the Treasury general fund until law has come into effect that will provide, within the following 12 months, additional revenue of not less than the amount of the difference. Suspends these requirements during war or other national emergency, upon the recommendation of the President and the approval of the Congress.