A private trustee would be sued into oblivion. Congress just gets reelected
A bipartisan group of eight senators introduced a bill on July 14 that does something almost unheard of in Washington: it forces Congress to vote on Social Security’s finances instead of talking about them. The PROMISE Act, sponsored by senators from Sens. Bill Cassidy (R-LA) to Dick Durbin (D-IL), would hand an independent advisory board the job of drafting a solvency plan and guarantee it an up-or-down floor vote.
- ▪A bipartisan group of eight senators introduced a bill on July 14 that does something almost unheard of in Washington: it forces Congress to vote on Social Security’s finances instead of talking about them.
- ▪The PROMISE Act, sponsored by senators from Sens.
- ▪Bill Cassidy (R-LA) to Dick Durbin (D-IL), would hand an independent advisory board the job of drafting a solvency plan and guarantee it an up-or-down floor vote.
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| Original publisher | Washington Examiner |
| Canonical URL | https://www.washingtonexaminer.com/op-eds/4663106/social-security-promise-act-solvency-fiduciary-reserves-congress/ |
| Publication time | Mon, 27 Jul 2026 13:00:00 +0000 |
| Retrieval time | 2026-07-27T13:01:18.050Z |
| Last seen | 2026-07-27T13:01:18.050Z |
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| Summary source text | contentText |
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Opening excerpt (first ~120 words) tap to expand
A bipartisan group of eight senators introduced a bill on July 14 that does something almost unheard of in Washington: it forces Congress to vote on Social Security’s finances instead of talking about them. The PROMISE Act, sponsored by senators from Sens. Bill Cassidy (R-LA) to Dick Durbin (D-IL), would hand an independent advisory board the job of drafting a solvency plan and guarantee it an up-or-down floor vote. That a bill guaranteeing a vote counts as bold legislation tells you what the actual scandal is. Congress has known the numbers for over a decade. It just hasn’t been willing to act on them.I’ve spent 30 years in institutional investment management, and I’ve built a career on a simple premise: markets, not politicians, are usually the more honest actuary.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Washington Examiner.
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