SS was never supposed to run out. Lyin’ Lyndon Johnson said so in 1964!
https://www.ssa.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government.
“Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
Back around 2004, AARP magazine had an article on why the SS is not a Ponzi Scheme. Ponzi Schemes run out of money and collapse. Since the SS system has never collapsed it is not a Ponzi scheme.
A few pages on in that same issue, Jane Bryant Quinn had an article on how the SS system was set up. Without saying the word “Ponzi” it is set up just like a Ponzi scheme with compulsory membership.
How it was originally supposed to work....You paid in all your life, then retired at 62. BUT the average life expectancy then was 57 years of age.
Then came Penicillin.
“BUT the average life expectancy then was 57 years of age.”
WWII resulted in that reduced life expectancy.
People living longer is obv a factor in it’s insolvency but not nearly to that degree.