A joint resolution proposing a balanced budget amendment to the Constitution of the United States.

This proposal would add a new rule to the Constitution saying the federal government cannot spend more money than it takes in, not counting borrowed money. Congress would have 10 years after the amendment is approved to make spending and income equal, and this balance could be spread over more than one year. In an emergency, Congress could approve extra spending beyond the limit, but only if two-thirds of both the House and Senate agree, and that extra spending would have to be temporary with any resulting debt paid back as soon as possible.

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