Biden's inner circle ‘clearly participated' in an ‘egregious coverup,' attorney argues
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Boston Globe
25 minutes ago
- Boston Globe
Bessent says new Trump child savings accounts are ‘back door for privatizing Social Security'
The White House did not immediately respond to a request for comment about Bessent's remarks. The idea of privatizing Social Security has been raised, and abandoned, by Republicans before, as millions of Americans have come to rely on the certainty of the federal government providing monthly checks in old age. Privatization proposals would shift the responsibility for retirement funds away from the government onto Americans, through personal savings accounts that may or may not be enough to live on. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Under the GOP's 'big, beautiful bill,' as the law is called, Republicans launched a new children's savings program, Trump Accounts, which can be created for babies born in the U.S. and come with a potential $1,000 deposit from the Treasury. Advertisement Much like an individual retirement account, the Trump Accounts can grow over time, with a post-tax contribution limit of $5,000 a year, and are expected to be treated similarly to the rules for an IRA, and can eventually be tapped for distribution in adulthood. Advertisement But Bessent on Wednesday allowed for another rationale for the accounts, suggesting they could eventually be the way Americans save for retirement. 'In a way, it is a back door for privatizing Social Security,' Bessent said while speaking about the program. Ever since the George W. Bush administration considered proposals to privatize Social Security more than 20 years ago, Republicans have publicly moved away from talking about the issue that proved politically unpopular and was swiftly abandoned. In the run-up to the 2006 midterms, Democrats capitalized on GOP plans to privatize Social Security, warning it would decimate the program that millions of Americans have come to rely on in older age. They won back control of both the House and the Senate in Congress. The Democrats warned Wednesday that Bessent's comments showed that Republicans want to shift the government-run program to a private one and are again trying to dismantle the retirement program that millions of Americans depend on. 'Donald Trump's Treasury Secretary Scott Bessent just said the quiet part out loud: The administration is scheming to privatize Social Security,' Tim Hogan, a spokesperson for the Democratic National Committee, said in a statement. 'It wasn't enough to kick millions of people off their health care and take food away from hungry kids. Trump is now coming after American seniors with a 'backdoor' scam to take away the benefits they earned,' Hogan said. The program has faced dire financial projections for decades, but changes have long been politically unpopular. Social Security's trust funds, which cover old age and disability recipients, will be unable to pay full benefits beginning in 2034, according to the most recent report from the programs trustees. Advertisement Those officials have said those findings underline the urgency of making changes to programs. Trump, attuned to Social Security's popularity, has repeatedly said he would protect it. Throughout his 2024 presidential campaign, Trump repeatedly said he would 'always protect Social Security' and said his Democratic opponents, President Joe Biden and Vice President Kamala Harris, would destroy the program. During the 2024 presidential primary campaign, he also accused other Republicans who have expressed support for raising the age for Social Security of being threats to the program. Trump said in an interview with NBC's 'Meet the Press' in December after he won the presidential election, 'We're not touching Social Security, other than we might make it more efficient.' His White House this year said Trump 'will always protect Social Security.' Social Security Agency Commissioner Frank Bisignano, a Wall Street veteran, was asked at his confirmation hearing in March about whether Social Security should be privatized and said he'd 'never heard a word of it' and 'never thought about it.'
CNN
25 minutes ago
- CNN
‘There was no nefarious conspiracy': Ex-top Biden official forcefully pushes back on GOP probe of mental decline
A former top advisor to Joe Biden forcefully pushed back on the GOP-led House Oversight Committee's investigation into the former president's cognitive decline and possible efforts to cover it up, calling the probe an 'unprecedented effort' to intimidate the prior administration. In a statement delivered to the committee as part of his closed-door testimony Wednesday, former Biden counselor Steve Ricchetti said he was cooperating with the inquiry 'because I believe it is important to forcefully rebut this false narrative about the Biden presidency and our role in it.' 'There was no nefarious conspiracy of any kind among the president's senior staff, and there was certainly no conspiracy to hide the president's mental condition from the American people,' Ricchetti said in the statement obtained by CNN. Ricchetti, who sat voluntarily for the interview, is the first of two Biden White House aides scheduled to appear this week as part of the committee's investigation. Former senior Biden advisor Mike Donilon is set to appear Thursday, and the committee is expected to hold more voluntary interviews in the coming weeks, including with former deputy chief of staff for policy Bruce Reed on Tuesday and former senior adviser to the president for communications Anita Dunn next Thursday. In his opening statement, at least, Ricchetti said he did not have any concerns that Biden couldn't do the job. It was not immediately clear how Ricchetti responded to questions from staff. 'At all times during his presidency, I believed that President Biden was fully capable of exercising his Presidential duties and responsibilities, and that he did so. Neither I, nor anyone else, usurped President Biden's constitutional duties, which he faithfully and fully carried out each and every day,' Richetti said. Addressing allegations that Biden staffers were taking actions without Biden's approval, Ricchetti said he was 'not aware' of any efforts by members of the Biden White House to usurp the president's authority and make decisions on his behalf. 'I am not aware of any effort to use the autopen on important documents without the President's knowledge and consent. I am not aware of any effort to keep important information from the President. Senior White House staff kept the President fully informed so that he could provide direction and make all important decisions,' Ricchetti said. Ricchetti acknowledged Biden stumbled at times, but dismissed the idea that was concerning. 'Did he stumble? Occasionally. Make mistakes? Get up on the wrong side of the bed? He did – we all did,' he said. Several Biden aides have declined to cooperate with the committee's investigation and invoked their Fifth Amendment right against self-incrimination after being subpoenaed to appear. Earlier this month, three Biden aides – White House physician Dr. Kevin O'Connor, former assistant to the president and senior adviser to the first lady Anthony Bernal and former assistant to the president and deputy chief of staff Annie Tomasini, who previously served as director of Oval Office Operations – pleaded the fifth in the face of questions from the panel. Invoking the Fifth Amendment is typically done to avoid answering specific questions, and though it can be perceived by the public as a way of avoiding accountability, the US Supreme Court has long regarded the right against self-incrimination as a venerable part of the Constitution. A number of Biden aides have sat for voluntary interviews with the panel, including former Biden chief of staff Ron Klain. During his interview, Klain told the committee that Hillary Clinton had expressed concerns to him in 2023 that Biden's age was an issue the campaign hadn't dealt with effectively, and that national security adviser Jake Sullivan told him in 2024 after the presidential debate that Biden wasn't as effective as he once had been, a source familiar with the matter previously told CNN. But like Ricchetti, Klain said that he believed Biden had the mental sharpness to serve as president and he saw no reason to doubt Biden's mental acuity.
CNN
26 minutes ago
- CNN
‘There was no nefarious conspiracy': Ex-top Biden official forcefully pushes back on GOP probe of mental decline
A former top advisor to Joe Biden forcefully pushed back on the GOP-led House Oversight Committee's investigation into the former president's cognitive decline and possible efforts to cover it up, calling the probe an 'unprecedented effort' to intimidate the prior administration. In a statement delivered to the committee as part of his closed-door testimony Wednesday, former Biden counselor Steve Ricchetti said he was cooperating with the inquiry 'because I believe it is important to forcefully rebut this false narrative about the Biden presidency and our role in it.' 'There was no nefarious conspiracy of any kind among the president's senior staff, and there was certainly no conspiracy to hide the president's mental condition from the American people,' Ricchetti said in the statement obtained by CNN. Ricchetti, who sat voluntarily for the interview, is the first of two Biden White House aides scheduled to appear this week as part of the committee's investigation. Former senior Biden advisor Mike Donilon is set to appear Thursday, and the committee is expected to hold more voluntary interviews in the coming weeks, including with former deputy chief of staff for policy Bruce Reed on Tuesday and former senior adviser to the president for communications Anita Dunn next Thursday. In his opening statement, at least, Ricchetti said he did not have any concerns that Biden couldn't do the job. It was not immediately clear how Ricchetti responded to questions from staff. 'At all times during his presidency, I believed that President Biden was fully capable of exercising his Presidential duties and responsibilities, and that he did so. Neither I, nor anyone else, usurped President Biden's constitutional duties, which he faithfully and fully carried out each and every day,' Richetti said. Addressing allegations that Biden staffers were taking actions without Biden's approval, Ricchetti said he was 'not aware' of any efforts by members of the Biden White House to usurp the president's authority and make decisions on his behalf. 'I am not aware of any effort to use the autopen on important documents without the President's knowledge and consent. I am not aware of any effort to keep important information from the President. Senior White House staff kept the President fully informed so that he could provide direction and make all important decisions,' Ricchetti said. Ricchetti acknowledged Biden stumbled at times, but dismissed the idea that was concerning. 'Did he stumble? Occasionally. Make mistakes? Get up on the wrong side of the bed? He did – we all did,' he said. Several Biden aides have declined to cooperate with the committee's investigation and invoked their Fifth Amendment right against self-incrimination after being subpoenaed to appear. Earlier this month, three Biden aides – White House physician Dr. Kevin O'Connor, former assistant to the president and senior adviser to the first lady Anthony Bernal and former assistant to the president and deputy chief of staff Annie Tomasini, who previously served as director of Oval Office Operations – pleaded the fifth in the face of questions from the panel. Invoking the Fifth Amendment is typically done to avoid answering specific questions, and though it can be perceived by the public as a way of avoiding accountability, the US Supreme Court has long regarded the right against self-incrimination as a venerable part of the Constitution. A number of Biden aides have sat for voluntary interviews with the panel, including former Biden chief of staff Ron Klain. During his interview, Klain told the committee that Hillary Clinton had expressed concerns to him in 2023 that Biden's age was an issue the campaign hadn't dealt with effectively, and that national security adviser Jake Sullivan told him in 2024 after the presidential debate that Biden wasn't as effective as he once had been, a source familiar with the matter previously told CNN. But like Ricchetti, Klain said that he believed Biden had the mental sharpness to serve as president and he saw no reason to doubt Biden's mental acuity.
