BREAKING: Trump Admin Admitted “Trump Accounts” are “Backdoor for Privatizing Social Security”

Seattle, WA - On July 30, 2025, Treasury Secretary Scott Bessent admitted in an interview that the new “Trump Accounts” in the Republican billionaire-first budget bill are a “backdoor for privatizing Social Security.” Chair Shasti Conrad released the following statement responding to this breaking news:

“The Trump Administration just said the quiet part out loud. After promising during the campaign he wouldn’t touch Social Security, Trump’s Treasury Secretary admits they are trying to steal the earned benefits of seniors with a ‘backdoor’ scam after already ripping away health care for 17 million people and threatening food assistance for 22 million American families. Seniors rely on their Social Security earned benefits for food, housing, and to pay for lifesaving medications. Sacrificing these defined benefits to the whims of the stock market will crush seniors every time there’s a market downturn. Every American should let their Congressperson know to keep their damn hands off Social Security.”

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The Washington State Democratic Party is committed to advancing progressive policy, empowering the grassroots, and ensuring Democratic victories up and down the ballot. Chair of the Washington Democrats, Shasti Conrad, is the first Indian-American woman to chair a major state party and led the most successful Democratic state party in 2024.