To amend title 31, United States Code, to require that the President submit to Congress a balanced budget for each fiscal year.

[AI summary unavailable — showing source text] Amends Federal law to require that any budget submitted by the President not be in deficit. Provides that if the President determines that a balanced budget is not feasible, and submits written reasons in support of such determination, then the President may submit two budgets, one in compliance and one in deficit.…