On another matter, Greenspan repeated a warning about the massive...

On another matter, Greenspan repeated a warning about the massive strain on the U. S. budget and the economy in the future from the looming retirement of 78 million baby boomers, who will draw benefits from Social Security and Medicare. He called the pending retirements 'one of the seminal events in the first part of the 21st century in the United States.' ... 'There is a significant probability that under existing law, that we have overpromised what will be available to Medicare recipients,' he said.