Balanced Budget Amendment

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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.
References in periodicals archive ?
There are currently a number of proposed Balanced Budget Amendments that have been introduced in the House and Senate.
No Balanced Budget Amendment is necessary if we insist that our elected Representatives keep their actions (and expenditures) within the bounds established by the United States Constitution
And if the Balanced Budget Amendment is in place, and when the required deficit-allowing threshold is not attainable, but the majority still want to spend the money they feel they need to spend (usually for items and issues not constitutionally allowed, but for such items as entitlement programs, stimulus packages, etc.
This is remarkable given that capital expenditures are not usually constrained by balanced budget amendments and perhaps signals that state and local governments are anticipating tight tax revenues for a considerable period.
state has some sort of balanced budget amendment which requires that current revenues equal expenditures on operating budgets over some fixed, short horizon (usually one or two years).
Instead we witness leadership offering sterile and self-defeating debates on such things as partial birth abortions, balanced budget amendments, and campaign finance.
Hence, in the United States, tax caps and balanced budget amendments aim to make it harder for democratic majorities to reverse course should the new conservatism run aground.
Both incoming House Speaker-to-be Gingrich and Dole have agreed that their respective Judiciary Committees will begin action on day one on reporting out balanced budget amendments.
At the same time, chances also increased that the Senate would opt to bar unfunded federal mandates as part of its version of a balanced budget amendment.
a strong supporter of a balanced budget amendment, last week worried about a return of what he called "smoke and mirrors," to the federal budget process.
Both the House and Senate rejected constitutional and statutory balanced budget amendments.
Given the state of the budget deficit, and Congress's inability to move for containment, proponents believed that a Balanced Budget Amendment was necessary to force Congressional action.