The last person to tackle the great entitlement of FDR - Social Security was Senator Daniel Patrick Moynihan. We need someone like that to step up now because it's entitlements like this that are what is driving our deficits. He pushed back the full retirement age in stages and adjusted the rates. That worked for a time, but further increases in claims that were never a part of the original law have further burdened the system so that it is unsustainable as currently structured.
Dems will whine and shout about killing grandma and grandpa, but they're living twenty to thirty years longer on average (shooting from the hip here) than they did back in the 40s and 50s. SS was never meant to be the sole retirement plan for all Americans. It was a hedge against becoming destitute in one's old age. It was built for a different time than what we live in.
My mother-in-law was in the WAVES for about 18 months in WWII. Then she worked for about 2 1/2 years as a secretary in a brokerage office. Then she quit, got married, had kids, and never worked at a job (other than mother and housewife) for the rest of her life. She started collecting SS payments when she was 65 up to and until she died at age 84. She probably paid a few hundred dollars at most into the system, and yet got back tens of thousands in return.