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,

Treasury Secretary Scott Bessent said Wednesday that the Trump administration was committed to protecting Social Security hours after he said in an interview that a new children's savings program President Donald Trump signed into law “is a back door for privatizing Social Security.

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.