I really don't think that Social Security will be around for me in my senior years. I think that it is probably best for people to begin saving for retirement as much and as soon as possible through 401k plans or IRAs or whatever else there is. Financial independence is really important. If you have retirement savings and Social Security is still around, it will be "a little extra money" as Munchkin put it.
Poverty is a serious issue for senior citizens especially with the high price of prescription medication. There are retirees now who are 'outliving' their savings. When Social Security was started, the average life expectancy was under 70 so people were retired for less than five years. Now people can live well into their 80's, 90's, and beyond which means they can be retired for 20 or even 30 years. Most people aren't financially prepared for that. The good news is the younger you start to save, the better prepared you will be for retirement.
DeltAlum - Here is some information from the Bureau of Labor Statistics about the Baby Boomers and their retirement savings if you are interested.
http://www.bls.gov/opub/cwc/cm20050114ar01p1.htm