Establishes spending safeguard limitations for direct spending programs without specific authorized spending levels.

The Spending Safeguard Act establishes spending safeguard limitations for any direct spending program without a specific authorized spending level, excluding Medicare and Social Security. The Director of the Office of Management and Budget must set these limitations within 90 days of a program's enactment or reauthorization. Federal agencies must inform program participants about these limitations. If a program reaches its limit, no funds can be obligated for it. The Director must report to Congress on spending levels and their relation to the safeguard limitations.

Establishes spending safeguard limitations for direct spending programs without specific authorized spending levels.

The Spending Safeguard Act establishes spending safeguard limitations for any direct spending program without a specific authorized spending level, excluding Medicare and Social Security. The Director of the Office of Management and Budget must set these limitations within 90 days of a program's enactment or reauthorization. Federal agencies must inform program participants about these limitations. If a program reaches its limit, no funds can be obligated for it. The Director must report to Congress on spending levels and their relation to the safeguard limitations.