In an AP story, Greenspan is saying that Congress needs to "move quickly to trim the Social Security and Medicare benefits that have been promised to the baby boom generation." Not doing so is going to lead to problems (as if everybody didnt already know that)
So in response, since I am sure they are going to ask for my response, here is my plan to save social security. Leave SS just as it is, except anyone under the age of 40 no longer gets it, and no more taxation for it. Instead, all that money will be freed up for the under 40 crowd to prepare for their own retirement. That works out to be a combined 15% of their pay. If you cant get a decent retirement plan going with 15% of your pay you shouldnt be in control of your own money.
As for the folks already on SS, or the 40+ crowd, we will continue payments as promised. The funds will come from selling off gov property to private individuals/groups. This will happen over a period of some 40-50 years so as to continously fund the program as well as not flood the market causing property devaluation. The 40+ crowd will also have the advantage of the 15% of their pay to invest wisely for their retirement.
Problem solved. Gov officials, you know how to get a hold of me if further clarification is needed.