To freeze all spending in the budget of the United States Government at fiscal year 1989 levels and to amend the Congressional Budget and Impoundment Control Act of 1974 to exclude social security trust funds from the definition of deficit.

Directs the Congress to freeze all spending in the Federal Government budget at FY 1989 levels, beginning in FY 1990, permitting increased spending only if it is completely offset by additional revenue or spending reductions in other programs.

Amends the Congressional Budget and Impoundment Control Act of 1974 to exclude, beginning in FY 1991, Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund receipts and outlays from Federal deficit determinations for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).