Democrats don’t want senior citizens to forget that President Donald Trump’s treasury secretary, Scott Bessent, called the new “Trump accounts” for children “a backdoor for privatizing Social Security.”
The Democratic National Committee is spending five figures on digital ads to reach senior citizens in Michigan, Maine and New Hampshire, a party official told Spectrum News. The official pointed out that these states have competitive U.S. Senate races in 2026 and include high numbers of households that are dependent on Social Security.
The ads include a short video that plays Bessent’s comment in between captions that read, “Trump official admits plan to gut Social Security” and “Tell the GOP: Keep your hands off our Social Security.” The ads will be placed on senior dating websites, online magazines and YouTube channels popular among seniors. The ads also will target Facebook users over 65.
Bessent made the comment while appearing at an event in Washington last week hosted by the conservative media outlet Breitbart.
He spoke about the new “Trump accounts,” which were authorized in the president’s domestic policy legislation that he signed a month ago. Children born from Jan. 1 of this year through 2028 will receive $1,000 from the government in a tax-deferred investment account. The child’s parents and employers can also contribute to the account, with the goal of the money being to accumulate for a future life event, from attending college to buying a home.
“In a way, it is a back door for privatizing Social Security,” Bessent said. “Social Security is a defined benefit plan paid out. To the extent that if all of a sudden these accounts grow, and you have in the hundreds of thousands of dollars for your retirement, then that’s a game changer.”
Democrats, who are currently out of power in Washington and searching for ways to effectively campaign, have latched onto the comment.
“The Trump administration finally said the quiet part out loud: they’re going after Social Security,” Tim Hogan, the DNC’s senior adviser for messaging, mobilization and strategy, told Spectrum News in a statement. “Apparently, kicking millions of Americans off their health care and taking food assistance away from kids and families wasn’t enough for Donald Trump — his administration admitted that their billionaire-first budget also includes a ‘backdoor’ to privatize Social Security.”
Hogan added, “Democrats are fighting back against this grift and working to make sure every American knows just how much damage this administration is doing to their hard-earned benefits.”
After the Breitbart event, Bessent posted a clarification on X, saying in part: “Trump Baby Accounts are an additive benefit for future generations, which will supplement the sanctity of Social Security’s guaranteed payments. This is not an either-or question: our Administration is committed to protecting Social Security and to making sure seniors have more money.”
White House press secretary Karoline Leavitt was asked about it in last Thursday’s press briefing.
“What the secretary of treasury was saying, and what this administration believes, is that these Trump newborn accounts — which is an incredibly creative and great provision that was in the One Big Beautiful Bill for newborn children, and families and future generations of Americans — will help supplement, not substitute, Social Security,” she said.
Since returning to the White House, and while on the campaign trail last year, Trump has repeatedly vowed not to cut Social Security and to protect Medicare and Medicaid benefits. Democrats remain skeptical.
The nonpartisan Congressional Budget Office recently released new estimates that the One Big Beautiful Bill Act will increase the federal deficit by $3.4 trillion by 2034 and cause 10 million people to lose health insurance over the next decade.