A bill to freeze all spending in the budget of the United States Government at fiscal year 1987 levels and to amend the Congressional Budget and Impoundment Control Act of 1974 to exclude social security trust funds from the definition of deficit.

Freezes all spending in the Federal budget at FY 1987 levels beginning with FY 1988. Permits increased spending in any program only if such spending is wholly offset by equivalent increases in revenue or reductions in spending in other programs.

Amends the Congressional Budget and Impoundment Control Act of 1974 to exclude revenues and outlays for the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund in the Federal deficit determinations for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).