Hovde accuses Democrats of not doing enough to combat inflation and says the country is heading for a recession

US Senate candidate Eric Hovde, who easily won his primary, accused Democrats of not doing enough to combat inflation, even though new figures from the Bureau of Labor Statistics show that inflation is easing.

The BLS reported a year-over-year inflation rate of 2.9% in July – the smallest 12-month increase since March 2021.

“[Democrats] have not brought prices down again. It is the rate of price increase that has caused the price decline. Prices have not gone down,” Hovde said at a WisPolitics luncheon on Wednesday.

Hovde said he thinks the economy will be “the biggest problem” in light of his comparison with incumbent Democratic U.S. Senator Tammy Baldwin in November, adding that the country is “probably heading for a recession.”

According to Hovde, the second biggest issue in the election campaign is the southern border.

“We know without question and without a doubt that Venezuela has been moving its prison cells and mental institutions to America,” Hovde said, attributing crime, “higher medical bills or higher health insurance costs” and a continued rise in deaths from fentanyl overdoses to immigration and Democrats' mismanagement of the border.

“My opponent claims she did something – but she did absolutely nothing,” Hovde said of Baldwin. He added that the bipartisan bill signed by Baldwin to increase border security “has no chance of passing” and “would not address any of the substantive problems.”

At the same time, Hovde did not want to support Donald Trump's call for mass deportations. The Madison businessman said that while he supported deportation, “it is impossible to believe that we will ever deport 10 to 16 million people.”

When asked for comment on Hovde's remarks, Baldwin's campaign referred to the statement it released last night on the primary results.

“While I'm running to put the families of Wisconsin first, my opponent, Eric Hovde, is a multimillionaire bank owner from California who has insulted our seniors, our farmers, our mothers and just about everyone else in our great state,” Baldwin said. “While he's running to put the rich and wealthy like him first, I will always stand up for the working people of Wisconsin.”

Hovde also said:

* More competition between health care providers would help to curb price spikes. One of the biggest shortcomings of Obamacare is the consolidation within the health care system that it brings with it.

“The most important thing we need in our health care system is competition, and we need it urgently. Then we need price transparency,” he said.

*Wisconsin should decide the abortion issue “by referendum”; he personally wants to see fewer abortions; he accepts exceptions for rape, incest and the life of the mother; and he supports broad access to the morning-after pill. He also said a national ban on abortion is not feasible because it would require a Republican president and large Republican majorities in Congress.

Regarding the abortion pill, Hovde said he believes access to the pill will continue to be a reality even across national borders.

“The pill will be there, and just like our narcotics move from state to state or from other countries to our countries, drugs will be distributed all over our country. And that's just the reality,” he said.

*The allegations made against him by the Baldwin campaign and its allies were “lies,” including that he insulted farmers and single mothers, that he is a Californian not a Wisconsinite, and that Sunwest Bank, of which Hovde is chairman and CEO, accepts money from foreign banks and governments.

“All these different ads, none of them contain a shred of truth. They are all fabricated and lies,” Hovde said. “Why don't you discuss things with me? Why don't you go out and talk about the issues instead of just making up silly ads and making false claims?”

Baldwin and Hovde are scheduled to debate on October 18 at a meeting hosted by the Wisconsin Broadcasters Association, but Hovde urged the incumbent senator to agree to “multiple debates.”

Hovde declined to say how much of his own money he would spend in the race against Baldwin. So far, he has loaned his campaign committee $13 million, according to FEC filings. In July, Hovde also filed a financial disclosure with the U.S. Senate that showed his net worth was between $195.4 million and $564.5 million, making him one of the richest people in the Senate if he wins.

Watch WisconsinEye video of the lunch and Hovde's availability for reporters.