That's correct. The full retirement age today is 65 years and four months. It rises by two months every year, gradually increasing to age 67 for people born after 1959. You can still retire at age 62 with reduced benefits.
The infamous P.L. 98-21, (H.R. 1900) Social Security Amendments of 1983-Signed on April 20, 1983 reduced benefits and increased the retirement age and SS taxes. I suspect that we will see a similar compromise by both parties as the day gets near again when SS can no longer bring in sufficient revenue to pay benefits. The Dems will not pursue personal accounts because they want SS dependence and the issue for political reasons. Medicare is in worse shape.
What ever happened to states rights and a "closer to home" resolution to domestic issues?
For Washington to be disputing the weighing of foreign and defense spending with domestic spending appears to be a contradiction to the idea of "states rights" and promoting the removing of local jurisdictions and taking the say of the voters to a higher level of irrelevance.
What's next, the bowing to the UN for direction?