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The other thing to consider is that, particularly amongst the working class and probably the lower middle class too, those retired SS claimants are often providing free childcare to grandchildren to allow their adult children to work, and/or taking on much of the burden of care for other elderly people, either partners or parents.
They're also, certainly in the UK and I suspect in the US too, the mainstay of social volunteering, through churches and charities.
Without that army of unpaid volunteers a lot of parents would struggle to work with young children, thereby becoming less economically active, and a lot of infirm elderly citizens would need a lot more (very expensive) social care. Large numbers of charity missions would be compromised and essential support such as soup kitchens and food banks, thrift stores and community centres would be threatened.
Holding off on SS for a few extra years would save the government a chunk of cash. But the wider economic implications in terms of their labour from which the nation currently benefits at a very low cost, could be more far reaching than we might expect.
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