Reporting from Washington — House Speaker Nancy Pelosi (D- San Francisco) said Friday that Republicans, and the secret donors fueling their campaigns, are intent on dramatically altering Social Security if elected this fall.
"They'd like to get their hands on granny's Social Security check," Pelosi said on a conference call with women reporters.
President George W. Bush told a financial industry convention in Chicago this week that his greatest failure in office was not passing Social Security reform.
Bush had promoted a plan that would allow younger workers to divert a portion of their Social Security tax into private accounts — a proposal similar to those being offered by some Republicans on the campaign trail this fall.
"They want to privatize; we want to preserve," Pelosi said.
The unprecedented flow of undisclosed giving to GOP campaigns this fall from outside groups is coming, Pelosi said, from "contributors who want to have a piece of granny's paycheck."
Doug Heye, a spokesman for the Republican National Committee, dismissed claims of secret donors to GOP campaigns and said, "Republicans are working to save Social Security from the bankruptcy Democrats are foisting on us all."