Cruz frames Trump accounts as private Social Security play, fueling privatization talk

At the Milken Institute Global Conference, Sen. Ted Cruz framed Trump’s new accounts as “Social Security personal accounts,” suggesting a path to privatize Social Security by diverting payroll taxes into stock-based accounts for future generations—a view echoed by some conservatives and investors but criticized by advocates as a backdoor privatization; White House and Treasury officials say the accounts are additive and do not change Social Security.