Senate Candidate Hovde Proposes Return to 2019 Federal Spending Levels
Republican U.S. Senate candidate Eric Hovde has proposed that all federal spending should be reduced to the levels of 2019, a move that could potentially affect veterans’ benefits and Social Security. Hovde made this suggestion during an Oct. 1 interview with WUWM radio, expressing concern that government spending, especially those initiatives launched during the COVID-19 pandemic, were undermining economic stability.
When asked about which federal programs should undergo cuts, Hovde was straightforward: “All programs should be pulled back to 2019 levels.” He specifically criticized the Inflation Reduction Act and the CHIPS and Science Act, both enacted under President Joe Biden, as contributors to inflation that should be rolled back.
Hovde’s assessment of inflation may overlook broader factors. According to a global analysis, the inflation following the COVID-19 pandemic was largely a result of supply chain disruptions, not localized to the United States. Moreover, the U.S. Bureau of Labor Statistics recently reported an inflation rate drop to 2.4%, close to pre-pandemic figures.
Reverting to 2019 spending levels could lead to an $82.6 billion cut for the Department of Veterans Affairs (VA). Since 2019, VA spending increases have largely supported disability compensation, pension payments, and benefits for families of deceased servicemembers.
This proposal may also endanger the PACT Act of 2022, designed to enhance healthcare for veterans exposed to harmful substances. The act targets veterans affected by Agent Orange during the Vietnam War and toxic burn pits in Iraq and Afghanistan, who face increased cancer and respiratory illness risks.
Social Security funding has risen approximately 28% since 2019, partly due to the retirement of baby boomers. The Social Security Administration states that the average monthly benefit is $1,872.09, and a reduction of 28% would mean a loss exceeding $500 monthly for beneficiaries.
Hovde has previously suggested potential cuts to Social Security, aligning with his goals to reduce national debt and the deficit. In June, he acknowledged the challenge of reducing debt without impacting Social Security and Medicare.
Eric Hovde is running against incumbent Democratic Senator Tammy Baldwin. Recent polling indicates Baldwin maintains a slight lead over Hovde by one percentage point.
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