Proposing an amendment to the Constitution of the United States to control spending.

[AI summary unavailable — showing source text] Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding one-fifth of economic output of the United States, unless two-thirds of each chamber provide for a specific increase of outlays above this amount. Authorizes waivers of these provisions when a declaration of war is in effect.…