Scott Bessent, Donald Trump’s Treasury Secretary, let the cat out of the bag when he said that their new “Trump Accounts” are intended as a backdoor way to privatize Social Security. Their idea is to get people to put money in these accounts beyond the $1,000 the government will give each newborn, so that they will be able to phase out or scrap Social Security. Your “Trump Account” will serve as a replacement. You would be charged thousands of dollars per year to manage these ‘Trump Accounts”, making you poorer and Wall Street richer.

As Republicans gear up for next year’s midterm elections, vulnerable lawmakers who supported the so-called “Big Beautiful Bill” are attempting to recast themselves as protectors of the health care program they sent to the wood chipper.