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 percentum of the Nation's gross national product for the last calendar year ending before the beginning of such fiscal year.

Constitutional Amendment - Prohibits Federal expenditures from exceeding revenues for any fiscal year and from exceeding 19 percent of the gross national product for the last calendar year ending before the beginning of such fiscal year. Provides for a suspension of such prohibitions for any fiscal year for which three-fifths of the House of the Congress provides, by rollcall vote, for a specific excess of outlays over estimated revenues.