A bill to provide that appropriations made by the United States shall not exceed its revenues, except in time of war or national emergency, and to provide for the systematic paying of the national debt.

Prohibits Congress from making any appropriations in excess of total estimated revenues in any fiscal year beginning with fiscal year 1980. Provides an exception to such prohibition in time of war or national emergency.

Prohibits any increase in the national debt. Requires the repayment of the national debt during the next 100 years.