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 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 Treasury secretary has a really strange way of convincing people it’s “ridiculous” to think the program is under threat.