Something akin to Algore's "lockbox" is needed to make sure that today's Social Security surplus is held in reserve for future shortfalls in the program.
This raises the deficit because Congress can't raid the Social Security piggybank and spend the money elsewhere, leaving nothing but worthless IOUs in the Social Security acount. But it will ensure that Social Security remains solvent for a much longer time.
Another way to extend the life of Social Security is to means-test for payout of benefits, and remove the cap on the amount of income that has to pay Social Security tax, which is currently limited to the first $160,200.
I think raising the cap to 250K would extend it awhile.