“In a way, it is a backdoor for privatizing Social Security.”
— Treasury Secretary Scott Bessent, July 2025
Bessent’s admission came during a policy panel on the Trump administration’s new “savings accounts for children.” Stripped of euphemism, this is about privatizing Social Security—the bedrock retirement program serving nearly 70 million Americans. The implications are staggering.
Bessent’s admission came during a policy panel on the Trump administration’s new “savings accounts for children.” Stripped of euphemism, this is about privatizing Social Security—the bedrock retirement program serving nearly 70 million Americans. The implications are staggering.