‘That’s unacceptable’: Ursula criticizes Social Security uncertainty as AARP projections show funding for only 80% of promised benefits

A new AARP report said changes in how Americans earn income have weakened Social Security’s finances, with the program’s combined trust funds projected to run out in 2034 without federal action. Continuing revenue would cover about 80% of promised benefits, rather than payments stopping altogether, according to AARP.

On “The Gee and Ursula Show” on KIRO Newsradio, KIRO host Ursula Reutin criticized repeated warnings about the program’s future, while KIRO host Gee Scott said he has long planned around the possibility of not receiving benefits.

“As an adult, as a child, all I have been told is that, ‘Hey, you won’t get Social Security when you get older,'” Gee said. “I’m still living by that.”

“That’s unacceptable,” Ursula said.

Ursula discusses when she would collect benefits

Ursula described the uncertainty people face after spending their working lives contributing to the program.

“When you would most need the help, after you’ve been working for a lifetime or until you can no longer work, suddenly that safety net is not there for you,” Ursula said. “That’s unacceptable. I’m tired of these warnings because it just causes unnecessary panic.”

She also questioned how the warnings shape discussions about taxes.

“It also sets the table for, ‘OK, so we’re going to find a way to hit you with more taxes because we don’t want Social Security to run out,'” Ursula said.

Ursula recalled a listener telling her he intended to wait until about age 70 to collect benefits. She said her own approach would be different.

“I am going to start collecting as soon as I stop working,” Ursula said. “The number of times they warn that the money might not be there, and then the other thing is I want to enjoy that money while I can enjoy it.”

Ursula stressed that she was describing a personal preference.

“That’s not financial advice,” she said. “That’s just what would work for me. My husband and I, by the way, are not even on the same page on that.”

Gee focuses on wages and Social Security revenue

AARP reported that wages subject to Social Security payroll taxes represented 41% of gross domestic product in 1983, compared with 34% in 2025. Its research attributes the shift partly to more income going toward investments, business profits, and wages above the payroll tax cap.

The report estimates that maintaining the earlier share would have generated an additional $10.8 trillion between 1984 and 2034, extending full benefits through 2059. That is a hypothetical calculation, not the program’s current funding outlook.

Gee connected the report to his concerns about wages.

“People were talking, ‘Well, Gee, how come you always talking about wages?'” Gee said. “Well, there it is, right there.”

Watch the full discussion in the video above.

Listen to Gee and Ursula on “The Gee and Ursula Show” weekday mornings from 9 a.m. to 12 p.m. on KIRO Newsradio.