S.J.RES.5: A joint resolution proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.

Constitutional Amendment This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year or 18% of the U.S. gross domestic product unless Congress authorizes the excess by a two-thirds vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The amendment requires a two-thirds vote of...

(Source: Library of Congress)