Draft amendment. Not yet rated or edited by the WeAmend community. Draft based off numerous versions of this proposed amendment.
Draft BB-18-01
Balanced Budget Amendment
In the absence of a national emergency the total of all Federal outlays made by the Congress for any fiscal year may not exceed the total of all estimated Federal revenues for that fiscal year, together with any related and appropriate fiscal restraints. In the case of an emergency, any outlays above such revenues must be recovered over a period of no less than 10 years after cessation of the emergency, or 20 years, whatever comes first.