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RE: (Very) Basic stuff Steem needs to fix: my personal list
Technically, SBD printing has already stopped since the debt ratio is above 10%. Currently, everything is paid out in STEEM. Given that the mechanism already exists, it should be trivial to just eliminate printing of SBD, and just pay out everything in STEEM, including SPS subsidies.
Additional idea, remove the SBD peg (convert to STEEM ability) also and leave SBD as is, but that would be quite harsh to existing SBD holders, not an easy task, but in hard times as these, also extreme measures should be evaluated.
Unfortunately, that may be too harmful for Steem's already tattered reputation.