The SS system has not had a surplus for forty years; it has since Raegan was President. By law, the surplus can only be loaned to the US Treasury. So it was a scheme that is bound to run into trouble. And if anyone thinks it is going to be easy to fix it, they must be using "new math."
I think the politicians were counting on people working longer (retiring later), but everyone I know is retiring earlier and drawing SS as soon as they are eligible. Any politician who seriously tries to raise the retirement age is going to get a lesson in reality. They can talk all they want about how folks are living longer and are healthier--easy to do if all you do is sit at a desk. Try hard physical, back breaking labor for forty years.
The advent of programs like 401 Ks and IRAs have made it possible for people to retire earlier, but it's no sure thing if you don't learn real quick that "easy come, easy go" is what the stock market is all about.
I hate the idea of government regulations, but something should be done to stop the highway robbery that goes on with investment companys. Mutual funds have turned into rip off schemes that are designed and managed for the benefit of the firm and not the investor.