Essay and iNow;
The proposed BBA, simply limits budgeting the next years cost to that of expected receipts, based on 18% of GDP. Congress at anytime, for any seen emergency, can vote to increase, the Proposed Budget by 2/3rd's of both chamber or for specific reasons (emergencies), increasing the debt, by 3/5th's. Note here that most legislation already requires 3/5th's (60%) of the Senate and I serious doubt, since then a public vote (in record) any person would truly vote against any REAL emergency or for one most certainly not, taking the US Census.
http://devil67712.wordpress.com/2011/07/31/full-text-h-j-res-1-a-balanced-budget-amendment-to-the-constitution-of-the-united-states/
Proposing a Balanced Budget, based on revenues and expenditures, can have different outcomes and iNow expenditures have exceeded Budgets, since Eisenhower.
http://www.geldpress.com/2008/07/us-budget-reporting-deception/
Basically the thought esteemed economist 7 problems with the BBA, all indicate otherwise, but before going further, I'd like you to question my understanding. It's not likely anything will pass before 2013 and even then the allowed 7 year limitation will be needed, as State Houses are also somewhat divided.