A bill to guarantee the timely payment of social security benefits in March 1996.

Declares that: (1) Congress intends to pass an increase in the public debt limit before March 1, 1996; and (2) social security beneficiaries should be assured, in the interim, that social security benefits will be paid on a timely basis in March 1996.

Authorizes the Secretary of the Treasury to issue U.S. obligations before March 1, 1996, in an amount equal to the monthly insurance benefits payable under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act in March 1996.

Exempts such obligations from the public debt limit until the earlier of March 15, 1996, or the date of the enactment of the first increase in such limit after the date of the enactment of this Act.