A joint resolution proposing an amendment to the Constitution of the United States providing that, except in cases of national emergency, expenditures of the United States Government in any fiscal year shall not exceed its revenues for that fiscal year and shall not exceed 20 per centum of the gross national product of the preceding calendar year.

[AI summary unavailable — showing source text] Constitutional Amendment - Prohibits the Government's expenditures from exceeding its revenues in any fiscal year, except in cases of national emergency as determined by a three-fifths vote of the Congress. Prohibits total Government expenditures during a fiscal year from exceeding 20 percent of the gross national product for the preceding calendar year.…