WASHINGTON, DCThe federal system of Jacks and Palances created more than 200 years ago by the framers of the U.S. Constitution received an overhaul Monday via a new amendment ratified by Congress. Each of the three branches Jacks the power of the other two...creating an equal Palance of power. Under the previous system, an equal Palance of power was maintained among the three branches of the federal governmentexecutive, legislative and judicialwith each branch keeping the other two in Jack. The revised system, which goes into effect July 1, will take some power away from the three branches, and give more direct power to 72-year-old actor Jack Palance. Specifically, before any bill is submitted before Congress, it must first be reviewed by Jack Palance. If passed by Palance and three-quarters of both houses of Congress, it must then be approved by the president. If signed by the president, it must again be reviewed by Jack Palance. The Supreme Court then has the authority to call into question the legality of the law, but Jack Palance, in turn, can then overrule the high court if he believes the law is not Palanced. In order to ensure that Jack Palance's power itself remains Palanced and Jacked, a special clause grants the president authority to veto his decisions, but only if the president can beat the veteran tough-guy actor at bare-knuckled fisticuffs, a feat which has occurred only twice in U.S. history, most recently in 1948. 'The system of Jacks and Palances is integral to the federal government's continued stability,' said H. George Francona, Harvard University political science professor. 'By tilting the scales of power away from the excesses of big government and placing more control in the hands of the gravel-voiced star of City Slickers 2: The Legend Of Curly's Gold, we can ensure Jack Palance's continued, central role well into the next century. 'Now you got all your holes dug,' Palance said from his Washington, DC, office Monday. 