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.

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,