I suppose you could argue it is welfare. Of course, welfare in the U.S. context has a pejorative connotation, and is only provided to those people. But this is standard Republican policy (boldface mine):

Harwood: Are you thinking that you’ll deal with that Social Security/Medicare/baby boomer retirement issue later by entitlement reform that reduces benefits?

Cohn: Look, the president on the economic front laid out three core principles. Number one was reg reform, number two was taxes and number three was infrastructure. We’re working our way methodically through reg reform, taxes and infrastructure. I think when he gets done with those, I think welfare is going to come up. That’s our near-term economic agenda right now.

No doubt, Republicans will propose Social Security ‘reform’ that doesn’t affect old people today (sucks to be GenX, I suppose…). But make no mistake, they are coming for Social Security.

Same as it ever was.