Resolution Proposing a Balanced Budget Constitutional Amendment

Nov. 18, 2011 | H.J.Res. 2

The joint resolution proposed a constitutional amendment that would require a balanced budget starting in fiscal 2018 or the second fiscal year after ratification by three-fourths of the states, whichever is later. Under the proposal three-fifths of the entire House and Senate would be required to approve deficit spending or an increase in the public debt limit. A simple majority could waive the requirement in times of congressionally declared war or in the face of a serious military threat. The amendment was defeated.