A joint resolution proposing an amendment to the Constitution of the United States to provide that appropriations made by the Congress shall not exceed the revenue of the United States, except in time of war or national emergency, and to provide for the systematic repayment of the debt of the United States.

Constitutional Amendment - Provides that total appropriations shall not exceed estimated revenues. Authorizes the suspension of such prohibition in time of war or national emergency. Prohibits any increase in the national debt as it exists on the date this article is ratified. Sets forth a schedule for repayment of the national debt. Empowers the Congress to enforce this article by appropriate legislation.