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Balanced Budget Amendment

   Also found in: Wikipedia 0.01 sec.
Balanced Budget Amendment
A proposed amendment to the United States Constitution that would require the federal budget to be in balance or in surplus every fiscal year. Several different versions of the balanced budget amendment have been proposed, and most states have implemented a version of it. Proponents argue it would encourage fiscal responsibility, while critics contend investing with borrowed money can sometimes be beneficial.


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A shift from purpose to process was seen in Congress during the 1980s and 1990s, when efforts to produce a balanced budget changed to efforts to produce a balanced budget amendment.
A strong fiscal conservative, the congressman has also introduced the Buchanan Balanced Budget Amendment Act to require a balanced federal budget and the Earmark Accountability and Reform Act to reform the process through which federal funds are "earmarked" for pet projects.
The 57-year-old Springfield resident is a fiscal conservative who supports a balanced budget amendment and who refuses to accept congressionally approved pay raises.
 
 
 
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