MS HC17

Memorializes Congress to adopt a balanced budget amendment to the U.S. Constitution by the end of 2013, requiring federal outlays not exceed receipts each fiscal year.

Allows three-fifths supermajority exception in each House to approve specific budget deficits and permits waiver during declared war or military conflict threatening national security.

Requires the President to submit a balanced budget proposal annually and mandates majority approval in both Houses for any revenue-increasing legislation.

Directs Mississippi Legislature to petition for a constitutional convention under Article V if Congress fails to adopt the amendment within two years of this resolution's adoption.

Excludes Social Security Trust funds from the balanced budget requirement and permits Congress to enforce the amendment through legislation based on revenue and spending estimates.