An original concurrent resolution setting forth the congressional budget for the United States Government for the fiscal years 1985, 1986, and 1987 and revising the congressional budget for the United States Government for the fiscal year 1984.

Revises the concurrent resolution on the budget for FY 1984 and sets forth the first concurrent resolution on the budget for FY 1985 and the appropriate budgetary levels for FY 1986 and 1987.

Recommends levels of Federal revenues of $665,400,000,000 for FY 1984, $743,700,000,000 for FY 1985, $811,000,000,000 for FY 1986, and $882,600,000,000 for FY 1987. Sets the amount by which the aggregate levels of Federal revenues should be changed at $2,400,000,000 for FY 1984, $10,700,000,000 for FY 1985, $16,100,000,000 for FY 1986, and $19,100,000,000 for FY 1987.

Sets the amounts for Federal Insurance Contributions Act revenues for hospital insurance within the recommended levels of Federal revenues at $39,900,000,000 for FY 1984, $45,600,000,000 for FY 1985, $52,600,000,000 for FY 1986, and $57,900,000,000 for FY 1987.

Sets the amounts for Federal Insurance Contributions Act revenues for old-age, survivors and disability insurance within the recommended levels of Federal revenues at $166,800,000,000 for FY 1984, $189,500,000,000 for FY 1985, $206,900,000,000 for FY 1986, and $223,700,000,000 for FY 1987.

Sets the appropriate levels of total new budget authority at $914,100,000,000 for FY 1984, $1,010,600,000,000 for FY 1985, $1,106,400,000,000 for FY 1986, and $1,209,700,000,000 for FY 1987.

States that the appropriate levels of total budget outlays are $855,300,000,000 for FY 1984, $924,400,000,000 for FY 1985, $996,600,000,000 for FY 1986, and $1,086,100,000,000 for FY 1987.

Sets the amount of deficits in the budget which are appropriate in the light of economic conditions and all other relevant factors at $189,900,000,000 for FY 1984, $180,700,000,000 for FY 1985, $185,600,000,000 for FY 1986, and $203,500,000,000 for FY 1987.

States that the appropriate levels of public debt are $1,596,200,000,000 for FY 1984, $1,843,300,000,000 for FY 1985, $2,105,300,000,000 for FY 1986, and $2,394,900,000,000 for FY 1987. Sets the amounts by which the temporary statutory limits on such debt should be accordingly increased at $106,200,000,000 for FY 1984, $247,100,000,000 for FY 1985, $262,000,000,000 for FY 1986, and $289,600,000,000 for FY 1987.

Sets forth the appropriate levels of total Federal credit activity as follows: (1) $37,600,000,000 for new direct loan obligations, $105,200,000,000 for new primary loan guarantee commitments, and $68,300,000,000 for new secondary loan guarantee commitments for FY 1984; (2) $36,700,000,000 for new direct loan obligations, $110,800,000,000 for new primary loan guarantee commitments, and $68,300,000,000 for new secondary loan guarantee commitments for FY 1985; (3) $40,800,000,000 for new direct loan obligations, $116,700,000,000 for new primary loan guarantee commitments, and $71,600,000,000 for new secondary loan guarantee commitments for FY 1986; and (4) $41,800,000,000 for new direct loan obligations, $123,300,000,000 for new primary loan guarantee commitments, and $75,100,000,000 for new secondary loan guarantee commitments for FY 1987.

Sets forth the levels of new budget authority and budget outlays and the primary and secondary loan guarantee commitments for each major functional category for FY 1984 through 1987.

Declares that if Congress has not completed action by October 1, 1984, on the second concurrent resolution on the budget for FY 1985, then this concurrent resolution shall be deemed to be the concurrent resolution required under the Budget Act of 1974.

Prohibits enrollment of the following until after the Congress has completed action on the second concurrent resolution on the budget or until October 1, 1984, whichever comes first: (1) any bill or resolution in the House providing new discretionary budget authority or new spending authority for FY 1985 which exceeds the appropriate allocation of new discretionary budget authority or new spending authority; and (2) any bill or resolution in the Senate which provides new budget authority or new spending authority for FY 1985 which exceeds the appropriate allocation of new budget authority or new spending authority.

Declares that for the purposes of this resolution, budget authority shall be determined on the basis applicable for FY 1984.