To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to provide for a sequestration of all budgetary accounts for fiscal year 1993 (except social security and interest on the debt) equal to 10 percent of the OMB baseline.

Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require, on the 15th day after the last general appropriation bill is enacted into law for FY 1993 or a continuing resolution is enacted into law through the end of that fiscal year (whichever is applicable), that the President issue an order to sequester ten percent of the Office of Management and Budget's baseline for such fiscal year. Exempts social security and interest on the debt from such sequestration.