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 ?
A balanced-budget constitutional amendment with teeth.
State legislatures might also be voting on a balanced-budget constitutional amendment.