Proposing an amendment to the Constitution of the United States to provide that appropriations made by the United States shall not exceed its revenues, except in time of war or national emergency; and to provide for the systematic paying back of the national debt.

Summary

Constitutional Amendment - Prohibits the Congress from making any appropriation that would result in total fiscal year appropriations in excess of estimated fiscal year revenues. Authorizes suspension of this prohibition in time of war or national emergency. Prohibits any increase in the national debt. Requires repayment of this debt during the 100-year period following ratification, at a rate of ten percent repayment per ten-year period.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 January 1989

  Open at official source

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