Treasury Secretary Scott Bessent has taken a firm stance against Senate Minority Leader Chuck Schumer's recent assertions regarding the Trump administration's intentions for Social Security.
Schumer, during a press conference, accused the administration of attempting to render Social Security ineffective, thereby creating a pretext for reducing benefits and ultimately privatizing the program.
Bessent, appearing on "The Story with Martha MacCallum," dismissed Schumer's claims as baseless and counterproductive.
According to the Daily Caller, Bessent remarked, "Senator Schumer seems a little discombobulated these days. He did the right thing on passing the clean CR [continuing resolution] last week. Hes taken a lot of shrapnel from his party. And extreme statements like this are not helpful for anyone."
He emphasized that the American electorate, in choosing President Trump, voted for a government that prioritizes accountability. Bessent highlighted efforts by various departments, including the Treasury and the IRS, to enhance efficiency and accountability.
Bessent further elaborated on the administration's commitment to safeguarding Social Security, stating, "We want to make things better for the American people. We want to ensure that they get everything that they have paid in and their benefits are there when they need them as they need them Senator Schumer is way off-base here."
He also pointed to President Trump's recent executive order aimed at modernizing government payments, which could bolster the security of Social Security disbursements to seniors. "President Trump yesterday signed an executive order at Treasury mandating that we examine our payment system and try to get more people onto the electronic payment platform," Bessent explained. This move is intended to mitigate the risk of theft associated with traditional check payments, ensuring that seniors receive their benefits securely and promptly.
President Trump has consistently vowed to protect Social Security, urging the Republican Party in January 2023 not to "cut a single penny" from the program. This commitment is underscored by an August 2024 report from the Social Security Administration's Office of the Inspector General, which identified approximately $72 billion in improper payments over several fiscal years.
In a bid to address these issues, Trump appointed Leland Dudek to lead the SSA in February, following the resignation of its acting commissioner amid a dispute over document access. Dudek's previous experience managing the SSA's anti-fraud office positions him well to tackle these challenges.
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