The National Commission on Social Security Reform, also known as the Greenspan Commission due to its chairmanship by Alan Greenspan

Alan Greenspan

Alan Greenspan is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private advisor and provides consulting for firms through his company, Greenspan Associates LLC...

, was a commission that was appointed by the United States Congress

United States Congress

The United States Congress is the bicameral legislature of the federal government of the United States, consisting of the Senate and the House of Representatives. The Congress meets in the United States Capitol in Washington, D.C....

 and President Ronald Reagan

Ronald Reagan

Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....

 in 1981 to study and make recommendations regarding the short-term financing crisis that Social Security faced at that time. Its 1983 report led to the Social Security Reform Act of 1983. Greenspan himself was critical of this act, stating, "Do I like the present Social Security system? No. If you asked me whether it would be necessary in the ideal society, I'd say no. Our type of economy is far removed from where I would like to see it, but you have to be careful about moving from one type of society to another."