If you build your development environment on a single server then chances are your dev account is an admin (or your developing as a domain admin) and so you’ll never run into this.  But if you have a more realistic development environment—which is never a bad thing—you may be google-binging this error and now you’re here

This shows up because the account under which the VS2010 process is running doesn’t have access to the appropriate databases to install your visual studio 2010 package.  Since it is a development environment and we don’t care too much about permissions, I would just go ahead and make sure the user is a local admin on the SharePoint 2010 Server (which you should be developing on) and that your user is a db_owner on both the SharePoint Config and Content Database that you are developing against.

Also make sure VS2010 is running as Administrator.

If you care about permissions then we’ll just pretend you probably shouldn’t actually be doing any development against the server.  You can try making sure that your user has the appropriate permissions to administer the server via PowerShell.  Even if this doesn’t get your deployment story complete in Visual Studio, it isn’t much to get a PowerShell script together that does the deployment itself.