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Greenspan: Cut Services 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.

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Greenspan: Consider Social-Security Cuts

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Greenspan: Cut Services

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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.