A concurrent resolution revising the Congressional Budget for the United States Government for the fiscal year 1980, 1981, and 1982.

[AI summary unavailable — showing source text] Sets forth the congressional budget for the United States Government for fiscal year 1980. Sets the recommended level of Federal revenues for such year at $517,800,000,000. Recommends an increase of $2,400,000,000 in the aggregate level of Federal revenues. States that the appropriate level of total new budget authority for fiscal year 1980 is $638,000,000,000. Sets the appropriate level of total budget outlays at $547,600,000,000. States that a budget deficit of $29,800,000,000 for fiscal year 1980 would be appropriate in light of economic conditions. Sets the appropriate level of the public debt at $886,400,000,000 in fiscal year 1980 with an increase in the statutory debt limit of $7,400,000,000. Sets forth the appropriate levels of new budget authority and estimated budget outlays for each major functional category of the budget in fiscal year 1980. Expresses the sense of the Congress that there be no revision of the budget figures contained in this resolution barring unforeseen developments. State that failure to achieve the savings assumed in the Second Budget Resolution will crowd out funding for priorities in the budget and may require rescission of enacted appropriations. …