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:
“I balanced all, brought all to mind,
The years to come seemed waste of breath,
A waste of breath the years behind
In balance with this life, this death.”
—William Butler Yeats (1865–1939)
“We might come closer to balancing the Budget if all of us lived closer to the Commandments and the Golden Rule.”
—Ronald Reagan (b. 1911)
“Every family should extend First Amendment rights to all its members, but this freedom is particularly essential for our kids. Children must be able to say what they think, openly express their feelings, and ask for what they want and need if they are ever able to develop an integrated sense of self. They must be able to think their own thoughts, even if they differ from ours. They need to have the opportunity to ask us questions when they don’t understand what we mean.”
—Stephanie Martson (20th century)