Senate Candidate Eric Hovde Advocates for Federal Spending Cuts to 2019 Levels
Eric Hovde, a Republican candidate for the U.S. Senate, has called for federal spending to be reduced to the levels seen in 2019. His proposal, however, may potentially affect veterans’ benefits and Social Security.
During an interview with WUWM radio on October 1, Hovde criticized what he termed as reckless government spending, particularly citing programs introduced during the COVID-19 pandemic as contributors to economic instability.
When pressed for specifics, Hovde stated unequivocally, “All programs should be pulled back to 2019 levels.”
He specifically targeted the Inflation Reduction Act and the CHIPS and Science Act, both of which were signed into law by President Joe Biden, as contributors to inflation that should be undone.
However, some experts argue that Hovde’s perspective may overlook broader economic factors. Inflation during the pandemic was a global issue largely caused by supply chain disruptions, not just U.S. policy. The U.S. Bureau of Labor Statistics recently noted a decrease in the inflation rate to 2.4%, nearing pre-pandemic levels, as reported by NBC News.
Reverting to 2019 federal spending would result in an $82.6 billion reduction for the Department of Veterans Affairs (VA). A significant portion of the VA’s budget increase since 2019 has been allocated to disability compensation, pension payments, and support for the families of deceased servicemembers.
This rollback would also endanger the PACT Act of 2022, which expands healthcare benefits for veterans exposed to toxic substances like Agent Orange and burn pits, both of which have been linked to increased cancer and respiratory illness rates among veterans.
Social Security spending has risen by approximately 28% since 2019, partly due to the retirement of baby boomers. The Social Security Administration estimates the average monthly benefit at $1,872.09, meaning a 28% cut could reduce payments by over $500 per month.
Hovde has previously shown openness to reducing Social Security. In June, he agreed with the notion that reducing the national debt and deficit would necessitate cuts to Social Security and Medicare.
Hovde is running against incumbent Democratic Sen. Tammy Baldwin. Recent polls indicate a tight race, with Baldwin holding a slight lead over Hovde by one percentage point.
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