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 amendment, balanced and/or budget:
“[Asserting] important First Amendment rights ... why should [executions] be the one area that is conducted behind closed doors?... Why shouldn’t executions be public?”
—Phil Donahue (b. 1935)
“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)
“A budget takes the fun out of money.”
—Mason Cooley (b. 1927)