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Trump Official Blasted After Saying The Quiet Part Out Loud About 'Trump Accounts' For Newborn Babies
Originally these accounts were going to be called a "money account for growth and advancement"—yes, the acronym was MAGA. Deciding the brand messaging was too complicated, they opted for naming them "Trump accounts."
What is the purpose of these accounts?
Trump's Treasury Secretary Scott Bessent provided some insight at a Breitbart-sponsored event in Washington, D.C., on Wednesday.
Bessent stated:
"In a way, it is a backdoor for privatizing Social Security. If, all of a sudden, these accounts grow and you have in the hundreds of thousands of dollars for your retirement, that’s a game-changer, too."
For anyone around during the tech boom and bust of the early 2000s, they'll remember when millions of people's retirement accounts went from hundreds of thousands to almost nothing overnight.
That's a game-changer, too.
Bessent quickly backtracked after his inadvertent honesty went public. He took to X to declare the Trump administration's undying devotion to Social Security.
He wrote:
"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."
"This is why President Trump’s One Big Beautiful Bill gave tax cuts to those receiving these Social Security benefits — under @POTUS, we are working tirelessly to spread prosperity to all Americans."
Bessent was soon on as many news programs as he could get on to try to put the cat back in the bag.
But people weren't buying what he was selling.
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Trump accounts allow parents to contribute up to $5,000 each year on behalf of their child. Republicans expect matching donations from employers and charities.
The funds will be invested in portfolios tied to U.S. stock indexes, structured similarly to individual retirement accounts (IRAs). Funds can be withdrawn without penalties after age 59 and a half or for college or to purchase a first home.
Bessent revealed the real goal is to make parents responsible for their child's retirement, eliminating Social Security, leaving the working poor and most of the middle class out in the cold.
And to have it all controlled by the whims of the stock market.
What could go wrong?
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Trump Called Out After He's Barely Able To Keep His Eyes Open During White House Event
But it seems it was just another case of projection.
On Wednesday, Trump spoke for about 10 minutes. Afterward he sat and listened while his Health and Human Services Secretary Robert F. Kennedy Jr. and his Centers for Medicare & Medicaid Services administrator Dr. Mehmet Oz babbled about their latest pseudoscience grifts.
You can watch the moment here:
While that duo would make most people want to tune them out, Trump's constant mockery of Biden earned him a call out on social media.
And it isn't the first time President Trump has been caught trying to get some shut eye.
He made waves back in 2024 when he kept nodding off during his hush money trial, with New York Times reporter Maggie Haberman noting:
"His jaw kept falling on his chest and his mouth kept going slack."
He also seemed to catch some z's during several campaign events while campaigning for his 2nd presidential term last year.
And more recently in July, Trump also appeared to fall asleep during an energy and AI summit in Pittsburgh.
After this latest incident, some of his past insults naturally came back to bite him.
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The White House recently revealed part of Trump's less than perfect medical history.
The 79-year-old POTUS has been diagnosed with chronic venous insufficiency, causing swelling in his lower legs and bruises on his hands.
The departure from declaring Trump the most healthy president to ever live was seen largely as an attempt to distract the public from Trump's close connection to registered sex offender and indicted child sex trafficker Jeffrey Epstein.
