Federal Reserve Chairman Alan Greenspan has suggested that Congress consider raising the retirement age and cutting benefits to deal with Social Security's funding problems. According to Greenspan, increasing labor-force participation is a natural response to America?s aging population. Greenspan has also mentioned raising taxes as on option, but he warns that this could inhibit economic growth.
See "Greenspan: Raise age for retiring, cut benefits", Chicago Tribune, March 15, 2005