A joint resolution proposing an amendment to the Constitution of the U.S. to provide that appropriations made by the U.S. shall not exceed its revenues, except in time of war or national emergency; and to provide for the systematic paying back of the national debt.

Constitutional Amendment - Provides that total appropriations shall not exceed estimated revenues. Authorizes the suspension of such prohibition in time of war or national emergency. Prohibits any increase in the national debt as it exists on the date this article is ratified. Sets forth a schedule for repayment of the national debt.