NPR logo

Greenspan: Consider Social-Security Cuts

  • Download
  • <iframe src="https://www.npr.org/player/embed/1701048/1701049" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
Greenspan: Consider Social-Security Cuts

Business

Greenspan: Consider Social-Security Cuts

Greenspan: Consider Social-Security Cuts

  • Download
  • <iframe src="https://www.npr.org/player/embed/1701048/1701049" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

Federal Reserve Chairman Alan Greenspan tells lawmakers the nation's long-term budget situation has worsened to the point that cuts in social security benefits should be considered. Greenspan also reiterated his belief that lawmakers should increase the retirement age and end the practice of using the inflation rate to adjust social security payments. NPR's Jack Speer reports.