WASHINGTON, July 24 -- Sen. Dick Durbin issued the following press release:
WASHINGTON - In a speech on the Senate floor today, U.S. Senate Democratic Whip Dick Durbin (D-IL) raised alarms that the Social Security Trust Fund will face insolvency in 2032 unless Congress acts and called on his colleagues to pass his new bipartisan legislation, the Protecting Retirement Opportunities and Maintaining Income Security for Everyone (PROMISE) Act, to initiate Congressional action on extending Social Security's solvency.
"In 1983, we [Congress] faced a possibility where we couldn't make the promised Social Security payments to beneficiaries across America. And so, [Congress] proposed a commission to take a look at it... In 1983, we raised the reti...