....Cut off those already dependent on it? No. Means test the current recipients and kill it off as soon as possible....
I agree with this. As Pan says, there is no money, and we are broke. If we do nothing, our economy and government will collapse under the weight of debt - Ponzi entitlements being the primary driver of that debt. Even if we act aggressively, by cutting spending and unleashing capital investment, some kind of forced-reality reordering of our entitlement house is imminent.
So assuming that we have to try
something as opposed to doing nothing, and assuming that what is required is some level of austerity, the question becomes what level of austerity, and what is politically possible? Paul Ryan has made some proposals along these lines, and it seems the only sane thing to try. We have to find a way to do the best we can to fulfill promises made to those who are currently benefiting from the system, and those who will be in the near future. There should be a means-test for these entitlements, and a slight increase in the retirement age. It will be hard for people to swallow, but it will not devastate those who have the means to support their own retirement.
Then something needs to be done about younger people who are being told that the SS/Medicare they have been paying into for 20 years (or whatever the number is) is going away, but will be replaced by (whatever - tax-free personal investment accounts, sliding-scale tax incentive for increased retirement savings, Idduno).
If we can get a grip on wasteful government spending, and eliminate retirement entitlements for people under a certain age while continuing them with some kind of a means test for those in or about to enter into the system, then it seems to me that that is about all that can be done. If we still collapse under the weight of behemoth government, we still did what could be done.
The other option is crash and burn, and deal with whatever America becomes in the aftermath. I don't like the prospects of that for my children or grandchild.