An original concurrent resolution setting forth an alternative congressional budget for the United States Government for the fiscal years 1980, 1981, and 1982 and revising the Second Concurrent Resolution on the Budget for fiscal year 1979.

Sets forth an alternative congressional budget for the United States Government for fiscal years 1980, 1981, and 1982. States that the recommended levels of Federal revenues are: $503,600,000,000 for 1980; $561,000,000,000 for 1981; and $632,600,000,000 for 1982. States that the amount by which the aggregate levels of Federal revenues should be increased is $100,000,000 for fiscal year 1980, and decreased is $14,300,000,000 for fiscal year 1981 and $35,900,000,000 for fiscal year 1982.

States that the appropriate levels of total new budget authority for fiscal years 1980, 1981, and 1982 respectively are: $601,800,000,000, $641,200,000,000; and $693,400,000,000.

Lists the appropriate levels of total budget outlays for fiscal years 1980, 1981, and 1982 respectively as follows: $533,500,000,000; $579,200,000,000; and $620,300,000.

States that the amounts of the deficit or surplus in the budget which are appropriate in the light of economic conditions are as follows: deficits of $29,900,000,000 in fiscal year 1980 and $18,200,000,000 in fiscal year in 1981 and a surplus of $12,300,000,000 in fiscal year 1982.

States that the appropriate level of the public debt is: $891,800,000,000 for 1980, and the amount by which the temporary statutory limit on such debt should be accordingly increased is $61,800,000,000; $941,000,000,000 for 1981, and the amount by which the temporary statutory limit on such debt should be increased is $111,000,000,000; and $967,700,000,000 for 1982, and the amount by which the temporary statutory limit on such debt should be increased is $137,700,000,000.

Specifies the appropriate levels of new budget authority and the estimated budget outlays for each major functional category.

Revises the second concurrent resolution on the budget for fiscal year 1979.