As the Trump administration seeks to overhaul federal programs, that has prompted new focus on Social Security’s future. Some experts say privatizing the program could help provide better returns. BlackRock CEO Larry Fink speaks during the New York Times DealBook Summit Nov. 30, 2022 in New York City. Michael M. Santiago | Getty Images News | Getty Images
President Donald Trump‘s efforts to slash federal government spending has ignited a new debate about the future of Social Security.
One idea that has been brought up before — privatizing the now public program — is getting new attention.
At the BlackRock retirement summit in Washington, D.C., on Wednesday, CEO Larry Fink said he supports more individual ownership in Social Security, though he said he would not necessarily use the term privatizing because it has toxic connotations.
“The problem we have now, we have a plan called Social Security that doesn’t grow with the economy,” Fink said.
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