According to this AP article,
Despite Social Security's long-term problems, the massive retirementand disability program could be preserved for generations to come with modest but politically difficult changes to benefits or taxes, or a combination of both. The options for closing the gap between scheduled benefits and projected tax revenue fall into two broad categories: cutting benefits or raising taxes. There are, however, many options within each category.
The AP used data from the Social Security Administration to calculate how much of the shortfall would be eliminated by various options. To illustrate how Social Security's long-term finances have become worse in the past two years, the AP also calculated the share of the shortfall that would have been eliminated, if the options had been adopted in 2010.