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)
“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)