There are time limits to get amendments passed.
This balanced budget one that began in the 1970s is not an open-ended time amandment that can take 40+ years to pass. That is not how this works. Usually it takes somewhere around a 7 year limit or so to get the required 34 states.
For ex, its why the ERA amendment failed, they could not get enough states within the designated timeframe it had to be passed by the state legislatures.
The 27th Amendment took 202 years, 7 months, 12 days.
What's the time limit? 300 years?
No balanced budget amendment has ever passed both houses of Congress and been passed on to the states for ratification.
29 states have applied for a convention to address a balanced budget amendment, and Congress has never passed a law setting a time limit for applications. Applications for a convention to address an issue are forever unless a state rescinds its application.