Balanced Budget Veto

The Cato Institute has an interesting proposal. It's called a Balanced Budget Veto. It sounds like it's a combination between a balanced budget amendment and a line-item veto. This is how the article describes the amendment:

A constitutional amendment should be considered that would give Bush veto power not merely to strike discrete "items" like the Omnibus's 8,000 earmarks, but also the ability to reduce spending across-the-board (subject to a two-thirds congressional override). The amendment would specify that the new executive power would be operational when the federal budget was unbalanced.

I think this would be a hell of a lot better than the marriage amendment.