Via Ezra Klein, this chart shows how the various Social Security proposals would reduce benefits (adjusted for inflation) for a family of modest ($40K) earnings. You may have to click on it to make it large enough to read.
The most famous plans are the burgundy line (Congress does nothing), the green line’s Bowles-Simpson proposal (Obama’s deficit commission) and the bright red line, Rep. Ryan’s “roadmap” (the wonky Republican proposal from this summer).
The plans are about the same till about 2020 when the heart of the baby boom (including yours truly) begins to retire.
More at the left wing Strengthen Social Security Campaign.