A concurrent resolution revising the Congressional Budget for the United States Government for the fiscal year 1980, 1981, and 1982.

Sets forth the congressional budget for the United States Government for fiscal year 1980.

Sets the recommended level of Federal revenues for such year at $517,800,000,000.

Recommends an increase of $2,400,000,000 in the aggregate level of Federal revenues.

States that the appropriate level of total new budget authority for fiscal year 1980 is $638,000,000,000. Sets the appropriate level of total budget outlays at $547,600,000,000.

States that a budget deficit of $29,800,000,000 for fiscal year 1980 would be appropriate in light of economic conditions.

Sets the appropriate level of the public debt at $886,400,000,000 in fiscal year 1980 with an increase in the statutory debt limit of $7,400,000,000.

Sets forth the appropriate levels of new budget authority and estimated budget outlays for each major functional category of the budget in fiscal year 1980.

Expresses the sense of the Congress that there be no revision of the budget figures contained in this resolution barring unforeseen developments. State that failure to achieve the savings assumed in the Second Budget Resolution will crowd out funding for priorities in the budget and may require rescission of enacted appropriations. Calls upon the following congressional committees to make the savings assumed in this resolution: (1) the Senate Committee on Agriculture, Nutrition and Forestry and the House Committee on Education and Labor; (2) the Senate Committee on Environment and Public Works and the House Committee on Public Works and Transportation; (3) the Senate Committee on Governmental Affairs and the House Committee on Post Office and Civil Service; (4) the House and Senate Committee on Armed Services; (5) the Senate Committee on Finance and the House Committee on Ways and Means; and (6) the House and Senate Committee on Veterans' Affairs.

Sets forth the congressional budget for the United States Government for fiscal years 1981 and 1982.

Recommends aggregate levels of Federal revenues of $610,200,000,000 in fiscal year 1981 and $671,800,000,000 in fiscal year 1982 with an increase in Federal revenues of $10,200,000,000 in 1981 and a decrease of $34,800,000,000 in 1982.

States that the appropriate level of new budget authority for fiscal year 1981 is $664,900,000,000 and $747,600,000,000 for fiscal year 1982. Sets the appropriate level of total budget outlays at $600,500,000,000 in fiscal year 1981 and $653,000,000,000 in fiscal year 1982.

Recommends budget surpluses of $9,700,000,000 and $18,800,000,000 in fiscal years 1981 and 1982 respectively.

Sets the aggregate level of the public debt at $911,200,000,000 in fiscal year 1981 with an increase in the temporary debt limit of $32,200,000,000. Establishes the level of the public debt at $939,100,000,000 for fiscal year 1982 with an increase of $60,100,000,000 in the temporary debt limit.

Sets forth the corresponding appropriate levels of new budget authority and estimated budget outlays for each major functional category of the budget in fiscal years 1981 and 1982.

Directs each standing committee of the House of Representatives which has jurisdiction over entitlement programs to include with its required March 15, 1980, report to the Budget Committee specific recommendations for funding mechanisms which would enable the Congress to exercise more fiscal control over such entitlements.

Directs the Budget Committee to submit to the House such recommendations as it deems appropriate based on such reports.

Reaffirms the commitment of Congress to find a way to relate accurately the outlays of off-budget Federal entities to the budget. Estimates such outlays to be $16,000,000,000 in fiscal year 1980.