Prior to each fiscal year, the President shall transmit to Congress a proposed budget for the United States Government for that fiscal year in which outlays will not exceed total receipts.
Congress shall not approve any budget with total outlays for a fiscal year that exceed total receipts for that year.
The limit of the debt of the United States held in public shall not increase.
Exception to the above would be in time of declared war or declared national emergency cause by acts of nature.
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