The children's savings program included in President Donald Trump's tax break-and-spending cut law “is a back door for privatizing Social Security,” Treasury Secretary Scott Bessent said Wednesday. Bessent's remarks,

The Treasury Secretary has described new savings account for young Americans as a "backdoor for privatizing Social Security."

Treasury Secretary Scott Bessent said Wednesday that the so-called “Trump accounts” created by the One Big Beautiful Bill Act could be a “backdoor for privatizing Social Security.” The comments, made during an appearance on the Breitbart podcast,