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social security administration
Ted Cruz Admits Trump Accounts Are Designed to Privatize Social Security Over Time
One advocate said the Texas Republican laid bare the "two-pronged strategy to push Social Security privatization: Creating the Trump accounts with one hand and gutting the Social Security Administration with the other."
May 08, 2026
Republican Sen. Ted Cruz said during a public conference this week that the so-called Trump Accounts established under the GOP's 2025 budget law represent a viable path toward Social Security privatization—something the Texas lawmaker described as a "dirty little secret."
During a panel discussion at the Milken Institute Global Conference in California, Cruz said that "conservatives in America, for 50 years... have been trying to do Social Security personal accounts." Cruz, who lamented the failure of Bush-era efforts to privatize Social Security, described such personal accounts as vehicles into which the payroll taxes that finance current Social Security benefits could be diverted.
In the not-too-distant future, Cruz envisioned, "we're going to be able to go to parents and say, 'Hey, you know that Trump Account your kid has? ... Wouldn't you like to be able to keep a portion of your tax payments that you're paying already and, instead of sending it to Uncle Sam, wouldn't you like to have a Trump Account just like your kid does?'''
"My prediction is, within five years, that is going to have a really compelling constituency," the Texas Republican added.
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Ted Cruz says the quiet part out loud…
Trump Accounts are a scheme to privatize Social Security.
HANDS OFF OUR EARNED BENEFITS! pic.twitter.com/Oo3owRF7bM
— Social Security Works ❌👑 (@SSWorks) May 8, 2026
Linda Benesch, vice president of communications at the progressive advocacy group Social Security Works, told Common Dreams that Cruz's comments laid bare the "two-pronged strategy to push Social Security privatization: Creating the Trump Accounts with one hand and gutting the Social Security Administration with the other."
Benesch pointed to the remarks of an anonymous Social Security Administration (SSA) worker, who warned in comments to The New Yorker earlier this week that privatization advocates plan to point to the decimated agency and declare, "Look how Social Security sucks."
"They’ve been trying to privatize it for decades," said the SSA worker. "Now this will give them the excuse.”
Benesch said Friday that Cruz is "giving away the other half" of the Republican scheme by promoting the eventual expansion of Trump Accounts, investment vehicles under which children born between January 1, 2025 and December 31, 2028 are eligible for $1,000 in "seed money" from the federal government. Parents of eligible children can contribute up to $5,000 per year to the accounts.
Cruz's comments are not the first time a Republican official has openly characterized Trump Accounts as a potential avenue for Social Security privatization.
"In a way, it is a backdoor for privatizing Social Security," US Treasury Secretary Scott Bessent said last summer. "Social Security is a defined benefit plan paid out that—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, too."
It’s been twenty years since Bush tried to do Social Security private accounts and they still haven’t realized workers’ Social Security taxes pay for *current retiree* benefits and not future benefits so you can’t do this without cutting current retiree benefits. https://t.co/eq9OnuhXVr pic.twitter.com/vguJN6pfuO
— Brendan Duke (@Brendan_Duke) May 8, 2026
Axios reported Friday that "the idea that Trump Accounts could replace or augment Social Security is something that has been talked about behind closed doors with lawmakers."
"But no one has wanted to touch that third rail, at least publicly," the outlet added, citing a person familiar with the private conversations.
Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare, noted in a Friday statement that polling has found little support for privatizing Social Security, with a 2022 survey finding that just 15% of American voters back the idea.
"Turning over Americans’ hard-earned benefits to Wall Street would expose future retirees to unnecessary risk while lining the pockets of the financial elites who donate to Republicans," said Richtman. "Ted Cruz, Donald Trump, and their Republican allies should realize that the people will not stand for privatization of their hard-earned benefits, and we in the advocacy community will continue to ensure that it never happens."
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'Now We Know Why Trump Fired the Inspector General at Social Security,' Says Watchdog Group
New revelations show an IG report about wait times for people seeking help or services was altered after it was submitted to the administration.
Mar 19, 2026
A Social Security advocacy organization on Thursday blasted the Trump administration for covering up damaging information contained in an inspector general report released in December.
According to The Washington Post, a report from the Social Security Administration's (SSA) inspector general (IG) about call wait times for beneficiaries was altered to make it seem as though wait times to speak to representatives had been reduced to under 10 minutes per call.
"An unpublished draft of the report... showed that the inspector general had planned to report another metric—called the 'total wait time'—to measure the overall time it takes for callers to be connected with an SSA employee," the Post explained. "According to that draft report, in 2025 total wait time averaged 46 minutes to over two hours."
The Post added that this "information was deleted from the draft after the agency reviewed it before publication."
Nancy Altman, president of Social Security Works, responded to the report by saying that "now we know why [President Donald] Trump fired the inspector general at Social Security," noting that the SSA IG was one of several fired across multiple agencies at the start of Trump's second term.
Altman then argued that the attack on inspectors general was part of a broader effort by the Trump administration to dismantle government transparency all together.
"Inspectors general are the American peoples’ eyes and ears in these agencies," said Altman. "The Trump administration is undermining that oversight at every turn. Under this administration, the IG has no ability to conduct independent oversight. There is no meaningful check on the Trump administration’s Social Security sabotage."
Democratic communications consultant Jesse Lee linked the damage to the SSA documented in the draft IG report to efforts by Elon Musk's Department of Government Efficiency (DOGE), which went on a firing spree of federal workers last year.
"So DOGE did a smash and grab at the Social Security Administration, breaking into the most sensitive data, firing phone and in-person case workers," Lee wrote. "Trump appointee waved around an IG report claiming wait times were fine—after burying the real report saying they were up to two hours."
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'Massive, Illegal, and Horrific Breach': Ex-DOGE Staffer Allegedly Stole Social Security Data
"Americans deserve timely, honest answers about what happened, whose information may have been exposed, what will be done to protect them going forward," said one campaigner.
Mar 10, 2026
Critics of the Department of Government Efficiency are sounding the alarm after the Washington Post reported Tuesday that the Social Security Administration's inspector general is investigating a whistleblower complaint accusing a former DOGE staffer of trying to share information from SSA databases with his private employer.
The Post didn't name the former DOGE software engineer, the company, or the whistleblower. However, the reporters spoke with the whistleblower and other unnamed sources, and also reviewed the related complaint as well as a letter from the acting inspector general to top members of four congressional committees.
The ex-DOGE staffer allegedly told multiple colleagues that he possessed two key databases of sensitive information on over 500 million living and dead US citizens, "Numident" and the "Master Death File," and once he removed personal details, he wanted to plug the remaining data into his company's system.
The newspaper noted that "the complaint does not allege that the engineer was successful in uploading the data to the company's system," and "a lawyer who represents the former DOGE member told the Post he denied all alleged wrongdoing."
The reporting adds to a long list of concerns and criticism provoked by DOGE, which President Donald Trump launched shortly after taking office. Billionaire Elon Musk was the de facto leader of the government-gutting initiative until he departed the administration last May.
Responding to the report on Musk's social media platform X, Congressman John Larson (D-Conn.), a longtime defender of Social Security, declared that "we need a full congressional investigation and answers!"
DOGE was never about efficiency or saving $—it was about handing Social Security over to Wall Street, dismantling public services & making it impossible to hold corporations accountable. That's why federal workers have been sounding the alarm—and we won't stop fighting back. #wetookanoath
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— Federal Workers United (@fedworkersunited.bsky.social) March 10, 2026 at 4:54 PM
House Committee on Oversight and Government Reform Ranking Member Robert Garcia (D-Calif.) announced that he is expanding his investigation of DOGE-related data leaks at the SSA over the allegations. He said in a statement that "the deeply disturbing whistleblower information obtained by the committee shows the Trump administration's callous disregard for the safety and security of Americans' most sensitive information."
"Not only has an ex-DOGE bro been accused of running around with the social security information of every American on a flash drive, he also may have the ability to edit and manipulate data at the Social Security Administration at will," Garcia continued. "This is dangerous and outrageous, and Oversight Committee Democrats will fight for transparency and accountability."
Richard Fiesta, executive director of the Alliance for Retired Americans, similarly said: "Allegations that a 'DOGE bro' may have removed highly sensitive Social Security data onto a thumb drive should set off alarm bells across the country. Social Security holds some of the most personal information Americans have, including Social Security numbers, birth and health records, and lifetime earnings histories. If these reports are accurate, it is a stunning, illegal data security breach."
"Americans deserve timely, honest answers about what happened, whose information may have been exposed, what will be done to protect them going forward," he argued. "Anyone involved must be held accountable to the fullest extent of the law. Congress and the Social Security inspector general must move quickly to get the facts and ensure that all involved in this reported data breach are punished."
Criminal theft of the American people's private Social Security data.
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— Social Security Works (@socialsecurityworks.org) March 10, 2026 at 2:51 PM
Public Citizen co-president Lisa Gilbert also demanded accountability. She said that "this massive, illegal, and horrific breach of Americans' most sensitive data has confirmed the very fears we've been warning about for over a year—that the Trump administration allowing DOGE to infiltrate our government without oversight created fertile ground for abuse, and in this case of an exceptionally egregious kind."
"These are the kinds of breaches that Public Citizen had previously sued the government to prevent," she added. "Federal and state officials must ensure the misuse of this data ends immediately and that all private copies of Social Security data are destroyed. Prosecutors should open a criminal investigation immediately and, if the evidence supports it, prosecute this case aggressively."
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