From Smartmoney.com: Let’s fix Social Security now! - Encore - MarketWatch
"No one wants benefit cuts, but two possible options include increasing the Full Retirement Age (after it reaches 67) to keep pace with improvements in longevity and adopting a “chain-weighted” consumer price index for Social Security’s cost-of-living adjustment (COLA). Adverse effects of the COLA adjustment on the low-income or the very old could be offset by increasing the minimum benefit or making a 5-percent adjustment at, say, age 85."
Not sure that the first option is realistic, thoughts?