S.J.RES.12: A joint resolution proposing an amendment to the Constitution of the United States which requires (except during time of war and subject to suspension by Congress) that the total amount of money expended by the United States during any fiscal year not exc

This joint resolution proposes a constitutional amendment prohibiting the total amount of money expended by the United States during a fiscal year from exceeding total revenue received for that fiscal year, excluding revenue from the issuance of bonds, notes, or other obligations of the United States. The amendment also prohibits the total amount of money expended by the United States in any fiscal year from exceeding 20% of the gross...

(Source: Library of Congress)