Any year in which there is a budget deficit, all of the members of the current House and Senate may not run for reelection.Problem 1: The House runs every two years. One third of the Senate runs every two years. So none of them are running for reelection every other year.
Problem 2: The period of when Congress runs for election is fixed by a little thing called the United States Constitution.
Problem 3: Silly, impossible, make-believe fixes are soooo much easier than real, hard choices.
I don't think that's what he had in mind. What he was saying is that any representative who was in office during any given year is flagged as not being eligible for reelection. Even if we buy your premise, there would be huge pressures to balance the budget every two years at least.