General Discussion

July 31, 2025
Bessent tries to walk back comments suggesting Social Security could be privatized

Treasury Secretary Scott Bessent is trying to walk back his suggestion that the so-called Trump savings accounts for newborns could be a "back door" to start privatizing Social Security.

Bessent made the comments in an interview with Breitbart while he was speaking at length about the importance of financial literacy.

"But in a way, it is a back door for privatizing Social Security," Bessent said.

In a social media post on Wednesday evening, Bessent sought to clarify his remarks. "Trump Baby Accounts are an additive benefit for future generations, which will supplement the sanctity of Social Security's guaranteed payments," Bessent wrote on X. "This is not an either-or question: our Administration is committed to protecting Social Security and to making sure seniors have more money."

https://abcnews.com/Politics/bessent-clarify-comments-suggesting-social-security-privatized/story?id=124248243