Senate defeats rival balanced-budget amendments

" By Josiah Ryan - 12/14/11 12:01 PM ET
The Senate on Wednesday defeated each party’s version of a constitutional amendment that would have required a balanced federal budget.

The rival proposals would have prohibited Congress from spending more each year than it receives in revenue.

But each one fell well short of the two-thirds majority needed to send them to the states for ratification. "

http://thehill.com/blogs/floor-action/senate/199353-senate-defeats-rival-balanced-budget-amendments