Social security was originally designed as an insurance policy encase one lived beyond their expected life span. It has now become a retirement plan for millions of Americans because people have stopped saving for retirement and instead rely solely on the government.
If Social Security was not a mandated program (except certain government workers) no one would pay into it. Instead people would plan for their own retirement. It is apparent that the government does not know what is best for our money.
So the best solution would be to dismantle the program. Stop forcing people to pay into social security unless they are close to retirement. Extend the age at which it can be drawn. Reduce the amount that it pays depending on current age, and finally plan for a date to close the program.