The White House is walking back Treasury Secretary Scott Bessent‘s claim that President Donald Trump‘s accounts for newborns are a “backdoor way to privatize Social Security.” White House press secretary Karoline Leavitt told reporters on Thursday that Bessent meant the Trump accounts “will help supplement,

Press secretary Karoline Leavitt said Trump will protect Social Security, after Bessent said newborn accounts are a “backdoor for privatizing” it.

U.S. Treasury Secretary Scott Bessent on Wednesday likened new savings accounts in a bill President Donald Trump this month signed into law to "a backdoor for privatizing Social Security," speaking at an event sponsored by Breitbart.