In 1948 the average Life expectancy was 65. Now it is 78.5. That is the main thing that is wrong with SS. It has become a sweeter and sweeter deal each year as our life expectancy rose, we cannot sustain that. We should accelerate & extend the current rise is the retirement age (currently set to max out at 67 in 2025 or 2026) so that it hits 70 or 72 in 2035 or so.
Yes, this mean we have to work longer (or not collect for a while) . But the average 65 year-old of today is far more able to work than the1948 model. And not only would they not collect, they'd continue to pay in to SS.