I worked for 28 years for Social Security before I retired in 08. The program is strong and viable despite the political rhetoric you hear from the professional politicians. There exist is waste, which I witness within the program, even though the cost of administration of is limited, by law, to 10% of receipts, money is still wasted.
While we criticize the increasing of the age eligibility requirements, we have forgotten that the age requirement has been going up'
Year of Birth Full Retirement Age
1937 or earlier 65
1938 65 and 2 months
1939 65 and 4 months
1940 65 and 6 months
1941 65 and 8 months
1942 65 and 10 months
1943-1954 66
1955 66 and 2 months
1956 66 and 4 months
1957 66 and 6 months
1958 66 and 8 months
1959 66 and 10 months
1960 or later 67
As you can see, the program has survive, and will survive if the age limit is raised to 70. I support raising the age to 70 and lifting the wage cap ($109,000) so that more revenues can be raise.
Source: Social Security Administration (SSA.Gov)