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And it's worse than that: in order to get to 2037, we have to go through 2016, when the Trust Fund will have start cashing its bonds. The government does not have cash on hand, and so will have to resort to printing money (which would cause very noticeable inflation), raising taxes, or scaling back the program. I remind you that 2016 is only about 5 years away.
1) The fact that the government is not awash in cash to pay back the bonds held by the SSA is not a flaw of SS but a problem with Congress and the rest of the budget system.
2) The treasury will likely resort to issuing marketable bonds to raise cash to buy back the bonds held by SSA (a solution not in your list).