A joint resolution proposing an amendment to the Constitution of the United States to provide that the total expenditures of the Government of the United States may not exceed the total revenues received by such Government in any fiscal year except in time of war or economic emergency declared by the Congress.

Constitutional Amendment - Prohibits the total expenditures of the Federal Government from exceeding its revenues in any fiscal year.

Suspends such prohibition during a war declared by Congress or upon the adoption of a concurrent resolution by a three-fourths vote of both Houses of Congress, stating that a national economic emergency exists.