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,

Press secretary Karoline Leavitt said Trump will protect Social Security, after Bessent said newborn accounts are a “backdoor for privatizing” it.

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.