A balanced-budget amendment is a constitutional rule requiring that the state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government.
Balanced-budget provisions have been added to the constitutions of most U.S. states, the Basic Law of Germany, Spain, Italy and the Swiss Constitution. It is often proposed that a balanced-budget rule be added to the national United States Constitution. Most balanced-budget provisions make an exception for times of war, national emergency, or recession, or allow the legislature to suspend the rule by a supermajority vote.
Famous quotes containing the words balanced, budget and/or amendment:
“... all the cares and anxieties, the trials and disappointments of my whole life, are light, when balanced with my sufferings in childhood and youth from the theological dogmas which I sincerely believed, and the gloom connected with everything associated with the name of religion, the church, the parsonage, the graveyard, and the solemn, tolling bell.”
—Elizabeth Cady Stanton (1815–1902)
“A budget takes the fun out of money.”
—Mason Cooley (b. 1927)
“The First Amendment is not a blanket freedom-of-information act. The constitutional newsgathering freedom means the media can go where the public can, but enjoys no superior right of access.”
—George F. Will (b. 1934)