Joint resolution proposing an amendment to the Constitution of the United states to provide that the amounts appropriated for any fiscal year shall not exceed the revenue of the United States, except in time of war or national emergency.

Constitutional Amendment - Provides that, except in time of war or national emergency declared by Congress, no law shall make any appropriation for any fiscal year which would exceed the estimate of the total revenue of the United States.

Provides for the appointment by Congress of a Congressional Budget Officer in the legislative branch of Government. States that such officer shall estimate the total revenue of the United States at the beginning of each fiscal year. Directs that any amount appropriated which exceeds the total revenue shall be deducted from the estimate of total revenue made for the following fiscal year.