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Eric Hovde on Social Security

 

 


Adjust for younger people, life expectancy going up

Hovde: I believe we need to protect Social Security. Keep it sacrosanct for everybody who is on Social Security or getting ready to retire. If you want to know why Social Security is in trouble, it is simple. We have taken federal debt from $5.5 billion to $36 trillion. We would have kept Social Security in a trust and not pilfered from it like you have. We have to look at things for Social Security for those younger people because life expectancy is going up, make adjustments for that.

Baldwin: We can extend the solvency of Social Security very easily. It's called lifting the income cap. Right now, multimillionaires like my opponent pay minute amounts. They are not doing their fair share. If we lifted that income cap, the solvency would be extended for many years. Let me tell you about something even more troubling: The plan that reverts and resets spending levels to levels from the last decade would cut social security by 28%.

Source: C-Span transcript of 2024 Wisconsin Senate debate , Oct 18, 2024

Trim benefits; raise the retirement age

Hovde has frequently referred to programs like Social Security and Medicare as "entitlements" rather than earned benefits that Americans paid into throughout their working lives--and has said benefits "absolutely" need to be trimmed. Last time Hovde ran for Senate, he talked repeatedly about the need to put Social Security benefits further out of reach from many Americans by moving the retirement age.
Source: Up North News on 2024 Wisconsin Senate race , Feb 15, 2024

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Page last updated: Oct 30, 2024; copyright 1999-2022 Jesse Gordon and OnTheIssues.org