Trump Accounts could be an answer to a Social Security system heading for bankruptcy, Rep. Roger Williams, R-Texas, told Newsmax on Thursday.
Appearing on Newsmax's "Wake Up America," Williams said President Donald Trump's newly launched Trump Accounts could help Americans build long-term wealth while providing an alternative source of retirement security as concerns grow over Social Security's financial outlook.
"I think it certainly can," Williams said when asked whether the accounts could help address Social Security's looming insolvency.
"If we let people own their own accounts and spend their own money, I think you're going to see a lot of investment rather than going elsewhere. But we have to have a backup. ... This certainly is a backup that includes all the people, not just a few."
Trump recently unveiled the investment accounts, which allow parents and others to contribute up to $5,000 annually for children.
The accounts begin with a $1,000 federal contribution and are designed to grow through long-term investment until the beneficiary reaches adulthood.
Williams, a member of the House Financial Services Committee and a former automobile dealer, praised the initiative as a way to teach financial responsibility while encouraging entrepreneurship.
"It's going to teach them the value of a dollar, the value of money, which we're not teaching in our schools right now," he said. "Young people really have no idea what the value of money is."
Williams said decades of compound growth could help young Americans pay for college, attend trade school, or launch small businesses.
"We're always wanting businesses starting," he said. "Think of the businesses that can be started 18 years from now. ... I think it's creating net worth in America. We don't talk about that. We talk about creating jobs, which is important, but creating net worth and a job is a great combination."
The Texas Republican credited Trump and business leaders, including Dell Technologies founder Michael Dell and his family, with backing the initiative.
Earlier in the interview, Williams also voiced support for Trump's handling of the conflict with Iran, arguing the president had exhausted diplomatic options before authorizing military action.
"President Trump has given Iran every opportunity in the world to come to the table," Williams said. "They don't do it. You can't believe them."
While saying he supports maintaining pressure on Tehran, Williams cautioned against deploying U.S. ground forces to seize the strategic Kharg Island oil terminal.
"Nobody wants ground troops," he said. "We've got the greatest Air Force in the world. I'd really hesitate to put boots on the ground."
Trump has argued that expanding personal investment and ownership opportunities can strengthen Americans' financial independence while boosting long-term economic growth, an approach many Republicans view as complementary to broader entitlement reform discussions.
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