Balanced Budget Amendment: Constitutional rule requiring that a state cannot spend more than its income
A balanced budget amendment is a rule in the United States Constitution that requires the government's yearly budget to spend no more than it earns, so the government does not have to borrow money.
Some proposals of the balanced budget amendment allow the government to borrow money (spending more than it earns) during a time of emergency such as war, or if most people in Congress agree it is necessary.
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