Scott Bessent admits that Trump has just invented a “back door for social security privatization”

Pesin said on Wednesday evening that the accounts created under Trump Reducing taxes on tax spending “It will complete the sanctity of the guaranteed payments for social security.”

“This is not either or a question: Our administration is committed to protecting social security and ensuring that the elderly have more x.

Bessent’s comments about social security privatization, What he made in a forum Breitbart News, was amazing after Trump’s repeated promises in the campaign’s path and in office he would not touch social security. It also confirmed the issue of spoiling the Republicans for years.

The White House did not respond to a request for comment.

The Democrats soon commented as a sign that the Republican Party wanted to revive a sleeping batch, but it is not popular to privatize the long -term retirement program.

“Amazing confession,” Chuck Schumer, Democratic Leader of the Senate in a Senate speech. “Pesin has already slipped, I told the truth: Donald Trump and the government want social security privatization.”

Republicans have sparked the idea of privatizing social security before, but quickly abandoned. Millions of Americans came to rely on the certainty of the federal program in which they pushed the system during their work years and then receive monthly checks guaranteed at their oldest age.

Privatization proposals would turn the responsibility for the retirement system away from the government and the Americans themselves. Through personal savings accounts, people will need to manage their own money, which may or may not be enough to live as they are old.

According to the “Great and Beautiful” Republican Party’s “Republican” draft law, as the law, Republicans launched a new program for providing children, Trump accounts, which can be created for children born in the United States and comes with a possible deposit of $ 1,000 of the treasury.

It is very similar to the individual retirement account, Trump’s accounts can grow over time, with the extent of post -tax contribution of $ 5,000 a year, and is expected to be treated similar to the rules of the Irish Republican Army, and can be ultimately exploited for distribution in adulthood.

But Bessent on Wednesday allowed another logic of accounts, indicating that it may eventually be the way Americans provide retirement.

“It is somehow, it is a rear door to privatize social security,” Pesin said while talking about the program.

The Treasury later issued a statement as saying, “Trump’s accounts are an additional government program that works with social security to expand and increase savings and the wealth of Americans. Social security is a decisive safety network for Americans and will always remain so.”

Since the George W. Bush administration looked at proposals for social security privatization for more than 20 years, the Republicans have publicly moved away from the issue that has proven to be unimportantly unpopular and was quickly abandoned.

In the period leading up in the middle of 2006, Democrats benefited from the plans of the Republican Party to privatize social security, excluding that it would determine the program on which millions of Americans depend at an older age. They won the control of both the House of Representatives and the Senate in Congress.

Democrats warned on Wednesday that Bessent’s comments showed that Republicans wanted to convert the government’s program to a special program and try once again to dismantle the retirement program on which millions of Americans depend.

“Tim Hogan, spokesman for the National Democratic Committee, said in a statement,” said Tim Hogan, a spokesman for the National Democratic Committee in a statement, said in a statement that “the Minister of Treasury in Donald Trump Scott Beastin said just the quiet part: the administration plans to privatize social security.”

“It was not enough to expel millions of people from their health care and took food away from hungry children. Trump now comes after the elderly Americans with the” background “fraud to withdraw the benefits they obtained,” Hogan said.

The social security program faced harsh financial forecasts for decades, but the changes have not been a long -term political famous.

Social security funds, which cover aging and recipient, will not be able to pay full advantages starting in 2034, according to another report from the program’s secretaries.

These officials said these results confirm the insistence of making changes to programs.

Trump, who is consistent with the popularity of social security, has repeatedly said he would protect him.

During his 2024 presidential campaign, Trump has repeatedly said that he would “always protect social security” and said his democratic opponents, President Joe Biden and Vice President Kamala Harris will destroy the program.

During the 2024 preliminary elections, other Republicans, who expressed their support to raise the life of social security of being threats to the program.

“We do not see social security, other than that we may make it more efficient,” Trump said in an interview with “Meet The Press” from NBC in December after winning the presidential elections.

The White House said this year that Trump “will always protect social security.”

The Commissioner of Social Security Administration, Frank Pesiniano, a veterans in Wall Street, was asked in his March confirmation session about whether social security should be privatized. He said that he “did not hear a word from it” and “he did not think about it.”