Economic Disaster Prevention Act of 2010

[AI summary unavailable — showing source text] Economic Disaster Prevention Act of 2010 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish non-defense discretionary spending limits for FY2011-FY2020. Prohibits the total level of direct spending for all direct spending programs, projects, and activities for FY2011-FY2020 from exceeding the respective total levels for the previous fiscal year after the direct spending for each such program, project, or activity is increased by a specified calculation. Requires the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) to issue non-defense discretionary spending limit and direct spending limit sequestration preview reports, including updates. Requires the OMB report to explain: (1) any differences between OMB and CBO estimates of any net direct spending change, any excess deficit, any breach, and any required sequestration percentage; and (2) differences in the amount of sequesterable resources for any budget account to be reduced if such difference is greater than $5 million. Requires the President to issue a sequestration order, effective on issuance, if OMB in its Final Sequestration Report es…