{"id":1055420,"date":"2025-07-31T15:08:31","date_gmt":"2025-07-31T19:08:31","guid":{"rendered":"https:\/\/democrats.org\/?p=1055420"},"modified":"2025-07-31T15:08:31","modified_gmt":"2025-07-31T19:08:31","slug":"wtas-bessent-admits-trumps-billionaire-first-budget-is-backdoor-way-to-privatize-social-security","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/wtas-bessent-admits-trumps-billionaire-first-budget-is-backdoor-way-to-privatize-social-security\/","title":{"rendered":"WTAS: Bessent Admits Trump\u2019s Billionaire-First Budget Is \u2018Backdoor Way To Privatize Social Security\u2019"},"content":{"rendered":"\n
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Donald Trump\u2019s billionaire-first budget is the largest cut to health care in history \u2014 all to give massive tax handouts to the ultra-rich \u2014 and yesterday, his Treasury Secretary Scott Bessent admitted<\/a> that the \u201cTrump Accounts\u201d included in the bill will be how they privatize Social Security. <\/p>\n\n\n\n

Here\u2019s what people are saying about Bessent confirming the Trump administration\u2019s plan to gut Social Security:<\/em><\/p>\n\n\n\n

Print: <\/strong><\/p>\n\n\n\n

Associated Press<\/a>: Bessent says new Trump child savings accounts are \u2018back door for privatizing Social Security\u2019<\/p>\n\n\n\n

New York Times<\/a>: Treasury Secretary Says Trump Accounts Could Pave Way to Privatizing Social Security<\/p>\n\n\n\n

Politico<\/a>: Bessent hails new \u2018Trump accounts\u2019 as \u2018backdoor for privatizing Social Security\u2019<\/p>\n\n\n\n

CNN<\/a>: Treasury secretary calls new Trump accounts \u2018a backdoor\u2019 way to privatize Social Security<\/p>\n\n\n\n

Daily Beast<\/a>: Bessent Brags: We\u2019ve Got a \u2018Backdoor\u2019 to Privatize Social Security<\/p>\n\n\n\n

The Independent<\/a>: Trump\u2019s baby savings accounts are just a \u2018back door to privatizing Social Security,\u2019 treasury secretary admits<\/p>\n\n\n\n

Washington Post<\/a>: Trump\u2019s newborn savings accounts a \u2018back door for privatizing Social Security,\u2019 Bessent says<\/p>\n\n\n\n

USA Today<\/a>: Trump accounts are a \u2018backdoor for privatizing Social Security,\u2019 Treasury secretary says<\/p>\n\n\n\n

Bloomberg<\/a>: Democrats Assail Bessent on \u2018Privatizing\u2019 Social Security Remark<\/p>\n\n\n\n

Reuters<\/a>: Bessent calls Trump baby accounts \u2018backdoor for privatizing Social Security\u2019<\/p>\n\n\n\n

Newsweek<\/a>: Trump Accounts \u2018Backdoor Way\u2019 to Privatize Social Security: Scott Bessent<\/p>\n\n\n\n

HuffPost<\/a>: Scott Bessent Calls New Tax Policy \u2018Backdoor For Privatizing Social Security’<\/p>\n\n\n\n

Washington Examiner<\/a>: Bessent says new \u2018Trump accounts\u2019 are \u2018backdoor for privatizing Social Security\u2019<\/p>\n\n\n\n

The New Republic<\/a>: Treasury Secretary Admits He\u2019s Never Seen Trade Deal Trump Is Hyping<\/p>\n\n\n\n

On the Airwaves:<\/strong><\/p>\n\n\n\n

Sen. Elizabeth Warren, MSNBC<\/a>: \u201cThe secretary is just reiterating what Republicans have been saying for years and years and years and years. They want to privatize Social Security. They want their buddies on Wall Street to be able to get their hands on your retirement, and they want to take away the retirement that Americans earn out of their paychecks every single week, every single paycheck. And look, it\u2019s just another Trump scam. As you pointed out, this initial boost is only for three years, and basically it\u2019s only for families that can afford to put $5,000 into a kid\u2019s account every year. The bottom line: I just say this every chance I get about social security. Social security is not charity. Social security is something people earn by making their contributions, and it becomes a solemn contract between the worker, the person who paid in, and the government. And we have to continue to honor that.\u201d<\/p>\n\n\n\n

Rep. Ritchie Torres, MSNBC<\/a>: \u201cMedicaid and Social Security are the most popular programs in America. It transcends partisanship. \u2026 [The Democratic Party has] been united in our resistance to Donald Trump, and we\u2019ve been unified in our opposition to the Republican reconciliation bill because it represents a frontal assault on the social safety net, on Medicaid.\u201d<\/p>\n\n\n\n

Jen Psaki, MSNBC<\/a>: \u201cI don\u2019t know if you practiced that line, if somebody wrote him that line, but he just said it\u2019s a backdoor for privatizing social security, which sounds like what someone sounds like when they say the quiet part out loud.\u201d<\/p>\n\n\n\n

NY Democratic Party Executive Committee Chair Christine Quinn, CNN<\/a>: \u201cThose are deadly words. Those are words that are going to send fear into the heart of everyone who is on Social Security, or everyone who is going to be on Social Security, which is just about everyone. And the backdoor phrasing is just bizarre, right? You’re kind of saying, \u2018this is what we\u2019ve been thinking for a long time, and we can’t do it aggressively and plainly. We\u2019re going to do it this way.\u2019 Talk about midterms. Forget about it.\u201d<\/p>\n\n\n\n

Frank Holland, MSNBC<\/a>: \u201cEntitlement programs are obviously a hot button when it comes to politics and when you talk about reducing them or changing them in any significant way, I think that\u2019s going to raise a lot of eyebrows not only in D.C., but of course on main street.\u201d<\/p>\n\n\n\n

On Social:<\/strong><\/p>\n\n\n\n

DNC Chair Ken Martin on X<\/a>: Trump\u2019s Treasury Secretary said the quiet part out loud: They’re going after Social Security.<\/p>\n\n\n\n

Sen. Ben Ray Luj\u00e1n on X<\/a>: President Trump\u2019s Treasury Secretary is saying the quiet part out loud:<\/p>\n\n\n\n

\u201cIn a way, it is a backdoor for privatizing Social Security.\u201d \u2013 Scott Bessent<\/p>\n\n\n\n

That means gutting the promise our seniors earned and dismantling Social Security as we know it.<\/p>\n\n\n\n

Sen. Jack Reed on X<\/a>: Trump Treasury Sec. Scott Bessent said the quiet part out loud: Trump-Republicans want to privatize Social Security, turning it from a dependable safety net to a risky profit center for moneyed special interests at the expense of everyday Americans.<\/p>\n\n\n\n

Rep. Katherine Clark on X<\/a>: Well, Republicans said the quiet part out loud:  <\/p>\n\n\n\n

They want to \u201cprivatize Social Security.\u201d<\/p>\n\n\n\n

Your money. Your benefits. Sold to the highest bidder.<\/p>\n\n\n\n

So much for standing with seniors.<\/p>\n\n\n\n

Rep. Don Beyer on X<\/a>: Secretary Bessent confirms what we have been saying all along: The Trump Administration wants to eliminate and privatize Social Security.<\/p>\n\n\n\n

DNC Secretary Jason Rae on X<\/a>: <\/strong>Scott Bessent just said the quiet part out loud: the administration is scheming to privatize Social Security.<\/p>\n\n\n\n

Democrats are fighting tooth and nail to protect these hard-earned benefits<\/p>\n\n\n\n

Rep John Larson on X<\/a>: Secretary Bessent said it loud and clear. Trump and \u2018DOGE\u2019 are out to privatize Social Security.<\/p>\n\n\n\n

Why? So their billionaire buddies on Wall Street can get even richer.<\/p>\n\n\n\n

I\u2019ll never back down from the fight to defend your EARNED BENEFITS!<\/p>\n","protected":false},"excerpt":{"rendered":"

Donald Trump\u2019s billionaire-first budget is the largest cut to health care in history \u2014 all to give massive tax handouts to the ultra-rich \u2014 and yesterday, his Treasury Secretary Scott Bessent admitted that the \u201cTrump Accounts\u201d included in the bill will be how they privatize Social Security.  Here\u2019s what people are saying about Bessent confirming […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1055420","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nWTAS: Bessent Admits Trump\u2019s Billionaire-First Budget Is \u2018Backdoor Way To Privatize Social Security\u2019 - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/wtas-bessent-admits-trumps-billionaire-first-budget-is-backdoor-way-to-privatize-social-security\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-31T19:08:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1101\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/wtas-bessent-admits-trumps-billionaire-first-budget-is-backdoor-way-to-privatize-social-security\/\",\"url\":\"https:\/\/democrats.org\/news\/wtas-bessent-admits-trumps-billionaire-first-budget-is-backdoor-way-to-privatize-social-security\/\",\"name\":\"WTAS: Bessent Admits Trump\u2019s Billionaire-First Budget Is \u2018Backdoor Way To Privatize Social Security\u2019 - 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