This joint resolution proposes an amendment to the U.S. Constitution that would mandate a balanced budget for the federal government. Under this proposed amendment, the nation's expenditures and receipts must be balanced, though this balance may be achieved over a period longer than one year. The amendment specifies that expenditures include all government spending except debt payments, and receipts include all income except funds derived from borrowing. Congress would be required to achieve this budgetary balance within 10 years of the amendment's ratification, with a provision allowing for temporary emergency spending if approved by a two-thirds vote in both the House and Senate.