I see that this question was asked once a while ago but there didn't seem to be much discussion. Does anyone think that the US should reform part of the Social Security Trust Fund to act more as a sovereign wealth fund and make more direct investments? With $2 trillion or whatever it is in assets now just sitting in "special issue" Treasuries, it seems like there is ample funds that could be invested in any variety of things, with infrastructure and other "nation-building" assets coming to mind.
I understand that any change would require an act of Congress (then a decade-long process to set up a bureau dedicated to this and then likely followed by a lengthy legal battle to the Supreme Court), and coupled with our current level of political gridlock any kind of investing would take forever and the red tape would be insane, but theoretically speaking is there anything that would make this hard to do, or even necessarily a bad idea?
Here's a link of the returns of the "special issue" Treasuries that the Trust Fund has to be invested in by law: