I am 70 and the wife will be in December. We are both drawing Social Security now. Should my wife suspend her benefits and apply for spousal benefits?

It's impossible to say for sure without knowing both your and your wife's past covered earnings history. If your wife suspends her retirement benefit in Jul and files for her spouse's benefit she would receive the larger of the two during suspension and her retirement benefit would be increased by 3.33% when she reinstates in Dec. So, it depends on the relative amount of her retirement benefit and her spouse's benefit. Social Security can tell you what her spouse's benefit is. Our software, MaximizeMySocialSecurity, can do the exact calculations and determine you best strategy.
Best,
Mike