Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the following

article is duly proposed an amendment to the Constitution of the United States, to be valid to all intents and purposes, as part of the Constitution, when ratified by conventions in three-fourths of the several States, as provided in the Constitution: Section 1: Prior to each fiscal year, there shall be made law a general bill of appropriations for that fiscal year in which the amount of expenditures shall not exceed the amount of receipts of revenue. Supplementary appropriations may be made by law in that fiscal year provided the total amount of expenditures shall not exceed the amount of receipts of revenue. The President and the Congress shall ensure that the total amount of expenditures shall be no greater than the amount of receipts of revenue. Section 2: If no general bill of appropriations shall have been made law upon the start of the first day of the fiscal year, then the members of the Congress and the members of the executive branch shall not be entitled to their respective emoluments, until such time as the general bill of appropriations shall have been made law; and their respective emoluments shall be reduced in the proportion of ten percent of the original amount for each day that no general bill of appropriations shall have been made law, which may continue until their compensation shall be none: Provided, that no law shall amend such reductions regardless of the lack of compensation, and that their respective compensations shall return to the prior level in the following year. Section 3: The respective remunerations for the members of the Congress shall not be varied more than once in any term of two years, and shall not be varied but by their own approval; nor shall any one law vary their compensation more than once. The members of the Congress shall not be entitled to any other emoluments, of any forms whatsoever, from the United States, except for their primary monetary remunerations, which shall not increase from year to year by more than the general increase in the level of prices in the United States in the previous year.

Section 4: Whenever three-fifths of the whole number of each House may provide, the Congress may lend their approval to a general bill of appropriations in which the excess amount of expenditures over the amount of receipts of revenue shall be no more than two per centum of the estimated total product of the economy of the United States in the fiscal year. Whenever two-thirds of the whole number of members of each House provide, the Congress may lend their approval to any general bill of appropriations in which the amount of expenditures shall not be equal to the amount of receipts of revenue. The President and the Congress shall ensure that the total amount of expenditures shall be no greater than as provided in the law which shall have been passed by the Congress; and thirty hours of debate may be required upon the subject in each House if one-third of the members present and voting may require, which vote shall be made upon the motion of any member, directly following the first reading of the bill. Section 5: An executive department shall be established for the sole purpose of the maintenance of the public debt of the United States and of the maintenance of the economy of the United States, and it is hereby made the duty of the Congress to establish that department. The department shall be not under the auspices of the President, except that he may at any time request the opinion of the principal officer of that department as to the projected activity of the economy and of the public debt. His opinions shall and must be used in any bill of appropriations with respect to the amount of public debt of the United States and with respect to the estimated total product of the economy of the United States. The Officer in question shall be appointed by the President, by and with the advice and consent of two-thirds of the Senate and two-thirds of the House of Representatives, and he shall serve a term of five years in his Office, to which he shall not be again eligible. No measure that he shall propose shall become law without the consent of the Congress, unless the President shall perform the measure by lawful authority. He shall have a deputy Officer, who shall act as the principal Officer in the event of the death, resignation, or removal from Office of the principal Officer. In the event that both Offices are vacant, then the President may appoint an Officer, by and with the advice and consent of the principal Officers of the other executive departments, who shall have been confirmed by and with the advice and consent of the Senate, such person who shall serve

the balance of the term and who shall not be again eligible for election or appointment to the Office. During his tenure in Office, the head of the executive department shall not be removed but for conviction upon impeachment. Section 6: The amount of expenditures of the United States in any fiscal year shall not exceed one-fifth of the estimated total product of the economy of the United States in that fiscal year, unless two-thirds of the members present in each House provide by law otherwise; and all estimations by the appropriate executive department referenced in this article shall be valid no earlier than one year prior to the actual date, with respect to the provisions of this article. The amount of expenditures of the United States upon any one measure or one executive department, or upon any series of related measures or executive departments, in any fiscal year, shall not exceed fifteen per centum of the expenditures of the United States in that fiscal year, unless two-thirds of the members present in each House provide by law otherwise. Such votes shall be necessary in the casting of the same at least once in the fiscal year during which such extraordinary provisions shall become operative under the auspices of the Government of the United States. Section 7: The funds remaining in the accounts of entitlement, at the close of any fiscal year, shall not be considered receipts of revenue, for the purposes of this article; and no funds shall be removed from those accounts, except at the close of the fiscal year, unless two-thirds of the whole number of each House provide otherwise by law in each instance necessary for the continuance of any excess funds. Section 8: Any funds remaining in the accounts of the Treasury of the United States, at the end of any fiscal year, shall be used for payment upon the national debt, except that if a majority of the whole number of each House provide by law otherwise, ten percent of those funds may remain in the Treasury for the use of the next year; and moreover, that the excess funds of the United States shall not be returned to the persons who shall have provided them unless two-thirds of the whole number of members in each House provide by law otherwise. But the former of these provisions shall be not operative with respect to the excess funds of the accounts of entitlement.

Section 9: The unanimous consent of the members present in the House of Representatives and the unanimous consent of the members present in the Senate shall be an appropriate number for any vote taken under a provision of this article: Provided, that a quorum of a majority of the whole number of members in each House shall be present, and that the presiding officer of the House shall name the members present upon the journal of his House. Section 10: All votes taken under this article shall be taken by yeas and nays, and the names of those voting for or against, as well as the names of the members present, shall be recorded upon the journal of the House in question, except by unanimous consent, whereby the presiding officer of the House in question shall recognize by oath or affirmation the presence of the necessary quorum. Section 11: The provisions of this article shall take effect in full no later than two years following the date that this article shall become effective: Provided, that within two years of the date that this article shall be ratified, as provided in the Constitution, the Congress may by law make the entirety of the provisions thereof, operative.