This Senator Just Said Washington Knows How to Fix Social Security - And Still Won't Do It

The missing piece in fixing Social Security senior benefits is political will, not policy expertise, according to Senator Dick Durbin. As the Social Security trust fund approaches insolvency and pressure increases on Congress to implement a solution to preserve the program, Durbin is speaking out about what it may take to keep Social Security solvent.

He should know: Durbin, an Illinois Democrat who leaves the Senate in 2027, served in Congress in 1983, when the Social Security program trust fund last needed help. His message about what worked then and what fixing Social Security may take now is important for everyone who depends on the benefits.

Durbin's frustration about the lack of momentum in Congress

Durbin expressed frustration about the lack of collective momentum in Congress to identify a fix. He said that he and a bipartisan group of lame duck senators tried to get Congress to buy into implementing a fix, but there was no support for the effort.

According to Durbin, the longer that Congress waits to find a solution, the more expensive it may be to fix Social Security.

"I'm afraid it won't be done this year," he said of the fix. "I think that's a missed opportunity. I'm prepared to make some tough decisions to make sure Social Security is always going to be there. Maybe a few of us doing that will make it easier," he said.

Projections for the Social Security trust fund's insolvency

Time is starting to tick down toward the Social Security trust fund's insolvency. The 2026 Social Security Trustees report projected that the trust fund may become depleted by the fourth quarter of 2032. That's one quarter earlier than the date projected by the 2025 report.

If the trust fund becomes depleted, the program's revenue may only be sufficient to pay 78% of total scheduled benefits, resulting in an automatic benefits reduction.

Insights from the 1983 Social Security fix

According to Durbin, in 1983, leaders were honest about the problems facing Social Security, and they implemented several different measures. Congress raised the retirement age and started taxing the incomes of individuals on Social Security. Congress also collected more taxes from employees and employers to help fund the program.

Many of those solutions are similar to solutions that legislators have proposed to address the current funding shortage; Durbin emphasized the fact that those tough changes were accepted by the public.

"We did it all and nobody lost an election because the system survived," he said.

The problem of missing political will

Durbin emphasized that political will is key to finding a solution, noting that Congress must not fail in preserving Social Security. He told a story about a group of senators trying to determine where to start in addressing the program's solvency.

"I said to Angus [King], 'Do you have AI on your phone?' He said, 'Sure.' I said, 'Type in what would be the best way to give 50 years of solvency to Social Security with a minimum cut in benefits.' It took AI three minutes to give him an answer… So, the options are out there," said Durbin.

What a Social Security benefits cut might mean for Americans

According to Durbin, half of the people currently receiving Social Security have no other source of income. As a result, he notes that the anticipated 22% cut that might be implemented in 2033 could be "a disaster" for families.

As of May 2026, Social Security retirement benefits averaged $2,083 per month. If that benefit were cut by 22%, average retirees would receive just $1,625 per month. Average spousal benefits would be reduced from $986 to $769 per month.

Those figures reflect benefits now, but the cuts might be even more significant in 2033 after cost-of-living adjustments are applied to boost benefits. Either way, beneficiaries stand to see a significant reduction in their monthly benefits that could strain a fixed income, creating a household emergency for many.

Bottom line

Congress still has time to address Social Security's approaching insolvency, and legislators are proposing potential solutions, like raising or eliminating the Social Security payroll tax cap, increasing payroll taxes for the general population, or raising the full retirement age at which point individuals may claim full Social Security benefits. 

Congress hasn't yet united on any of these solutions, and it's possible that the final fix may involve a combination of proposed ideas.

There's lots of conversation circulating around the topic of Social Security, and the pressure is on Congress to address the issue. Since it's still possible that benefits might be reduced, it's also a good idea to stress test your retirement budget to see how you might navigate if you received reduced benefits. Doing so now may give you an idea of whether you need to make any changes to stay on track for retirement.

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