Emphasizing the last point, forgetting the idea of a 200 a month bump and readjusting the COLA formula to better reflect reality (which will tend to result in higher COLAs) IF steps are not taken most vitally raising the income cap for payroll taxes, the system WILL NOT pay by borrowing. It will cut benefits! Given how many people rely on SS checks just to barely survive, I don't see how that would be OK at all.