Overly simplified solution:
Make SS voluntary. That way, the people who want to rely on greedy politicians who have proven that they cannot effectively manage my money can do that. The people who feel that they would rather handle their own money can do that and not have SS taken out of their paychecks. If SS goes bankrupt, oh well. You gambled and lost. If your private account goes belly up, oh well you gambled and lost. If you do not rely on SS and choose to not invest money in your retirement, oh well. Sucks to be you.
Here are your choices:
1) Have the politicians, who have proven to be irresponsible with your money, be responsible for your retirement by investing in a system that is doomed to fail
2) Invest my own money where there is only a potential to fail but I have control over how it is invested and how much risk I am willing to take.
The choice seems clear to me.