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:
“With a balanced combination of the two principal energies from mother and father, a girl can both be in touch with her womanly strengths and be a powerful force in the world—strong and nurturing, decisive and caring, goal- oriented and aware of the needs of others. She has the courage to voice what she thinks and feels and the strength to follow her destiny.”
—Jeanne Elium (20th century)
“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)