1. Wait Till There's an Emergency
As a practical matter, some experts argue that Congress will not let Social Security run out of money. The baby boomers may be straining the program now, but they're also the ones who make up a substantial portion of the voting public. And in 15 years, they'll be an even larger share of the electorate.
Indeed, in the early 1980s, the program was in worse shape than it is today. But after a raise in the retirement age of one to two years, and a phased-in increase in the payroll tax, it was solved for years afterward. Whenever the country hits the point where we have the same political will to make similar changes, there are several possible courses of action.