The Balanced Budget Veto Amendment is a proposed amendment to the United States Constitution put forth in a paper by Anthony Hawks published by the libertarian Cato Institute, with the intention of establishing a self-enforcing mechanism to reduce deficit spending.
The amendment gives the President line-item veto authority over spending for one year, if the prior year's budget is unbalanced.
Such an amendment would permit the President to make necessary spending cuts while providing Congress with an incentive to balance the federal budget by Themselves.
(Additional details may be found at http://www.cato.org/pub_display.php?pub_id=1346
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