A joint resolution proposing an amendment to the Constitution of the United States which requires (except during time of war and subject to suspension by Congress) that the total amount of money expended by the United States during any fiscal year not exceed the amount of certain revenue received by the United States during such fiscal year and not exceed 20 per centum of the gross national product of the United States during the previous calendar year.

        [Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S.J. Res. 10 Introduced in Senate (IS)]

109th CONGRESS
1st Session
S. J. RES. 10

Proposing an amendment to the Constitution of the United States which
requires (except during time of war and subject to suspension by
Congress) that the total amount of money expended by the United States
during any fiscal year not exceed the amount of certain revenue
received by the United States during such fiscal year and not exceed 20
per centum of the gross national product of the United States during
the previous calendar year.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

March 16, 2005

Mr. Shelby introduced the following joint resolution; which was read
twice and referred to the Committee on the Judiciary

_______________________________________________________________________

JOINT RESOLUTION

Proposing an amendment to the Constitution of the United States which
requires (except during time of war and subject to suspension by
Congress) that the total amount of money expended by the United States
during any fiscal year not exceed the amount of certain revenue
received by the United States during such fiscal year and not exceed 20
per centum of the gross national product of the United States during
the previous calendar year.

Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled, That the following article is
proposed as an amendment to the Constitution of the United States, to
be valid only if ratified by the legislatures of three-fourths of the
several States within 7 years of the date of final passage of this
joint resolution:

``Article--

``Section 1. The total amount of money expended by the United
States in any fiscal year shall not exceed the total amount of revenue
received by the United States during such fiscal year, except revenue
received from the issuance of bonds, notes, or other obligations of the
United States.
``Section 2. The total amount of money expended by the United
States in any fiscal year shall not exceed the amount equal to 20 per
centum of the gross national product of the United States during the
last calendar year ending before the beginning of such fiscal year.
``Section 3. Sections 1 and 2 of this Article shall not apply
during any fiscal year during any part of which the United States is at
war as declared by Congress under section 8 of Article I of the
Constitution.
``Section 4. Sections 1 and 2 of this Article may be suspended by a
concurrent resolution approved by a three-fifths vote of the Members of
each House of Congress. Any suspension of sections 1 and 2 of this
Article under this section shall be effective only during the fiscal
year during which such suspension is approved.
``Section 5. This Article shall take effect on the first day of the
first fiscal year beginning after the date of the adoption of this
Article.
``Section 6. Congress shall have power to enforce this Article by
appropriate legislation.''.
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