The failure of both political parties to balance the federal budget for the last forty  years has placed a
huge burden of debt on generations yet unborn or too young to vote. The interest payments alone
will severely limit the opportunities of future generations. We would do well to remember that
"taxation without representation" was the driving force behind the American revolution.

The law I am proposing will require the Congress to implement a balanced budget and begin
repaying the debt. It limits spending to the amount they are willing and/or able to collect.

    1. Details
        A. Congress will approve a budget and set the tax rate to cover the expected expenditures for

             the following fiscal year by Oct 1.

             1. The fiscal year for tax collections and other receipts shall extend from Oct 1 through Sep 30.

             2. A new fiscal spending year that begins Nov 1 and extends through Oct 30 will be

                 established. Only actual receipts collected in the current fiscal receipts year or carried over

                 from the previous years can be disbursed.

             3. Congress shall be prohibited from expending any funds until the tax rates have been

                 established and a complete budget enacted into law.

          B. All budget items shall have a priority rating such that, should revenues be less than

              budgeted, the lowest priority items will not be funded. An amount equal to 2% of the national

              debt, as calculated at the time of implementation of this law, shall be the highest priority

              expenditure each year.(As an alternative, it could be set up to pay 1% the first 10 years, 2% the

              second ten years and 3% per year after that until the debt is paid off)

          C. In an emergency, the Congress can borrow from future receipts with 2/3 approval of both

               houses and the presidents' signature. This loan shall be the second priority in the following

               year budget and ahead of all disbursements except debt repayment. This option shall only be

               available to the Congress twice in a five year period.

           D. No ongoing expenditures shall be on "auto pilot" and will need to be authorized each year.

           E. The Congress will be allowed to increase the national debt, one time, an amount equal to

               1/12th of the proposed following years expenditure budget to close the "gap" between the

               first fiscal year receipts and fiscal year  expenditrures.                                                                                                                                      F. The BBA would be enacted over 3 years to coincide with the sales tax amendment,  with the

                deficit reduced by 1/3 each year and balanced the fourth year.                                               

     2.Constitutional Amendment

            A. The states will be asked to approve this law as a constitutional amendment.

     3. Benefits:

            A. This will bring spending under control. Congress will be forced to weigh the negatives of

                 revenue raising against the benefits they accrue from spending.

            B. Forces Congress to prioritize spending.

            C. Does not limit the amount Congress can spend.

            D. Offers an out for Congressmen in that they can insert a pork project but claim "insufficient

                 funds" when it is too low a priority to be funded. The American people understand the issue

                 of not spending when there is no more money.