A balanced-budget amendment is a constitutional rule requiring that the state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government.
Balanced-budget provisions have been added to the constitutions of most U.S. states, the Basic Law of Germany, Spain, Italy and the Swiss Constitution. It is often proposed that a balanced-budget rule be added to the national United States Constitution. Most balanced-budget provisions make an exception for times of war, national emergency, or recession, or allow the legislature to suspend the rule by a supermajority vote.
Famous quotes containing the words amendment, balanced and/or budget:
“During the Suffragette revolt of 1913 I ... [urged] that what was needed was not the vote, but a constitutional amendment enacting that all representative bodies shall consist of women and men in equal numbers, whether elected or nominated or coopted or registered or picked up in the street like a coroners jury. In the case of elected bodies the only way of effecting this is by the Coupled Vote. The representative unit must not be a man or a woman but a man and a woman.”
—George Bernard Shaw (18561950)
“... all the cares and anxieties, the trials and disappointments of my whole life, are light, when balanced with my sufferings in childhood and youth from the theological dogmas which I sincerely believed, and the gloom connected with everything associated with the name of religion, the church, the parsonage, the graveyard, and the solemn, tolling bell.”
—Elizabeth Cady Stanton (18151902)
“We might come closer to balancing the Budget if all of us lived closer to the Commandments and the Golden Rule.”
—Ronald Reagan (b. 1911)