Proposing an amendment to the Constitution to provide that, except in time of war or economic emergency declared by the Congress, expenditures of the Government may not exceed the revenues of the Government during any fiscal year.

Constitutional Amendment - Prohibits aggregate fiscal year Federal expenditures from exceeding receipts, unless: (1) the United States is in a state of war declared by the Congress; or (2) both the Senate and the House of Representatives agree by a two-thirds vote to a concurrent resolution that a national economic emergency requires suspension of the prohibition.