For Your Consideration
May. 12th, 2006 08:42 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
mishalakThe Federal Budget Amendment
1. The purpose of this amendment is to balance the federal budget except in times of crisis.
2. Spending by the federal government may not exceed actual revenue from the prior year except as provided by this amendment. Excess revenue may only be used to pay down the federal debt.
3. In case of congressionally declared state of war with a foreign power or state of insurrection all funds actually spent for that purpose will be exempt from spending limits in this amendment. Nothing other than a constitutional declaration of war or insurrection will be valid for the purposes of this section.
4. If a year's actual revenue falls short of a prior year's actual revenue then congress may declare a State of Economic Emergency and spend an amount to the prior year's actual revenue plus 10% per year of the crisis. No crisis may be declared if the fall in revenue was due to congressional action to reduce taxes, tariffs, fees, duties, or any other source of Federal Revenue. The State of Economic Emergency must be renewed annually before passage of a budget that would otherwise exceed the spending limits in this amendment and may not continue for more than seven consecutive years.
5. Congress shall have the power to override these spending limits by a 2/3 vote of each house with the approval of the president or 4/5 of each house without the approval of the president.
6. If congress cannot agree upon a budget before the start of the fiscal year that respects the limits of this amendment then The Supreme Court of the United States shall set a budget based upon a reduction or increase for all departments based upon the prior year's budget.
7. If the Federal Debt is less than one half of the prior year's actual revenue congress shall have the power to set a budget based upon projections of revenue until such time that the debt again exceeds one half of the previous year's actual revenue.
1. The purpose of this amendment is to balance the federal budget except in times of crisis.
2. Spending by the federal government may not exceed actual revenue from the prior year except as provided by this amendment. Excess revenue may only be used to pay down the federal debt.
3. In case of congressionally declared state of war with a foreign power or state of insurrection all funds actually spent for that purpose will be exempt from spending limits in this amendment. Nothing other than a constitutional declaration of war or insurrection will be valid for the purposes of this section.
4. If a year's actual revenue falls short of a prior year's actual revenue then congress may declare a State of Economic Emergency and spend an amount to the prior year's actual revenue plus 10% per year of the crisis. No crisis may be declared if the fall in revenue was due to congressional action to reduce taxes, tariffs, fees, duties, or any other source of Federal Revenue. The State of Economic Emergency must be renewed annually before passage of a budget that would otherwise exceed the spending limits in this amendment and may not continue for more than seven consecutive years.
5. Congress shall have the power to override these spending limits by a 2/3 vote of each house with the approval of the president or 4/5 of each house without the approval of the president.
6. If congress cannot agree upon a budget before the start of the fiscal year that respects the limits of this amendment then The Supreme Court of the United States shall set a budget based upon a reduction or increase for all departments based upon the prior year's budget.
7. If the Federal Debt is less than one half of the prior year's actual revenue congress shall have the power to set a budget based upon projections of revenue until such time that the debt again exceeds one half of the previous year's actual revenue.