Maybe. Balanced budget and term limits will never come from congress so the states will have to via A5.
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A balance budget means cutting mandatory spending like Social Security and Medicare.
The discretionary spending that just passed was $1.7 trillion and for all the rhetoric about pork, half of it was military or military type spending.
Over $4 trillion of the Federal Budget is mandatory spending that can only be changed by Congress.
Getting Federal receipts and outlays within reason doesn’t take a balanced budget gimmick, it takes a Congress with some intestinal fortitude.
The military is a small part of the budget. The “mandatory” spending is the lions share, and there is plenty to cut.