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Eric Hovde: Inflation is crushing Wisconsin families. Blame federal spending, regulations.

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Eric Hovde: Inflation is crushing Wisconsin families. Blame federal spending, regulations.



Federal spending needs to be brought back to 2019 levels, and excessive deficit spending needs to be halted

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Editor’s Note: The Ideas Lab asked the Democrat and Republican candidates for the U.S. Senate to submit 1,000 word essays on how they would tackle inflation, the issue Wisconsinites surveyed as part of the Main Street Agenda project said is the most significant problem they face heading into the Nov. 5 election.

Inflation has crushed Wisconsin families, driving up prices and making it harder than ever to get by. To fix this problem, you have to elect folks who understand the root causes and how to address them in a lasting way.

Inflation is always a monetary event. It is caused by the excessive spending and printing of money. The definition of inflation is too much money chasing a fixed amount of goods and services. The spike in inflation was a result of the excessive spending by the federal government that began during the COVID-19 lockdowns. The government increased federal spending by 40% in 2020 as it was providing stimulus checks to individuals and businesses to keep the economy from collapsing. The contraction in economic activity that occurred by shutting down our economy was offset by the temporary spike in government spending and transfer payments. 

The problem of inflation began when the economy reopened at the end of 2020 and the Biden-Harris administration, which took over in January of 2021, continued to spend money at the same rate even though the economy was roaring back as businesses were reopening and employees were being rehired. Through a series of legislation like the Inflation Reduction Act, Biden, Harris, and Congress have added $4.1 trillion in federal spending on top of normal appropriations acts that were already causing deficit spending. They added more debt in the last 3.5 years than during our country’s first 230-year history. 

Tammy Baldwin: ‘Greedflation’ is driving prices higher. I wrote a bill to stop gouging.

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You heard from the candidates. We want to hear from you. Rate their inflation essays.

Due to this excessive spending, the Federal Reserve (the government’s bank) was required to absorb that spending by purchasing $5.7 Trillion in Treasuries and mortgage-backed securities through a process called Quantitative Easing. As a result, money supply increased significantly. The most important measurement of money supply is M2, which increased by over 39%. 

Because of this money printing, inflation was ignited, first in the price of assets (i.e. stocks, bonds, real estate), then to the price of goods, followed by the price of services. Inflation over the past three years increased by over 22%, and if we measured inflation like we did in the 1980’s prior to President Clinton’s changes in the measurement of CPI, inflation would have increased closer to 40%, almost equal to the increase in money supply. 

Impact of inflation on Wisconsin families has been horrible

The impact of inflation on Wisconsin families has been horrible. It has driven up the price of their groceries, gas and heating, housing, healthcare, and insurance. It has also caused real wages to actually decline over the last three years. We have rarely had American wages dip over a three year period. 

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Sen. Tammy Baldwin and Vice President Kamala Harris claim inflation is a result of corporate greed. However, if this were the case, why weren’t corporations being greedy for the 40 years prior? Further, why does inflation track with the federal increase in spending and money supply? Lastly, does Baldwin also claim that farmers were being greedy because they were passing on higher prices? Or small businesses that were passing on higher prices because their costs were rising? It is a silly argument and a deflection from their role in creating this horrible outcome for Wisconsin families. 

How do we tackle this problem? 

The Federal Reserve has already started that process by slowly contracting the money supply and increasing interest rates to slow the economy. However, because of our now $35 trillion in debt and the continued federal spending, exceeding 50% of the level prior to COVID, inflation will unfortunately resume unless difficult decisions are made immediately. 

The first thing that needs to happen is federal spending needs to be brought back to 2019 levels, and excessive deficit spending needs to be halted. To prevent an economic contraction as spending declines, pro-growth policies need to be implemented, like deregulation. President Reagan deregulated the economy in the 1980’s while he was addressing the inflation problem of the 1970’s, and this helped create the economic boom that followed. Unfortunately, the regulatory state has grown far more dramatically than it was even in 1980. Any business owner or farmer will tell you they are choking on excessive regulations. 

Further, mandates that the Biden administration has put on numerous industries need to be removed, such as on automakers for EV cars or energy companies with green energy initiatives that are not economically viable. All those mandates do is drive up the costs of cars and energy. What we need is to get the economy more in alignment, by reducing unnecessary costs of producing goods and services while creating strong economic growth to get wages increasing. This is what will improve financial outcomes for Wisconsinites.  

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Contrast my real world experience with that of career politician

I have spent my life in the real world and understand how our global and financialized economy works. I have a deep understanding of how the banking system, our capital markets, and the Federal Reserve function. Having spent my career building and turning around companies, primarily community banks, and having operated in multiple different industries, including my real estate development company in Madison, I have unique insights into all aspects of our economy. 

Unfortunately, today, we have career politicians like Baldwin who are making impactful decisions on our economy who simply do not understand how our economy functions, because they have never operated in it and have no experience. 

Disappearing farms: We feared for dad’s life after selling our cows. Finding hope while friends faced loss.

A primary reason I entered the race for the U.S. Senate is because I have watched these horrible economic policies being implemented that are hurting the middle- and working-class and having a devastating impact on the elderly that live on fixed incomes. We are also jeopardizing our children’s future by leaving them $35 trillion in debt, with another $1 trillion being added every 4.5 months. 

If we don’t address our debt and deficit spending, the U.S. economy will collapse into a debt crisis that is not too far off. Amongst all the problems our country is currently facing, it may be the biggest concern. It will require smart economic policy and cooperation by both parties to get this problem fixed! The people of Wisconsin should know I will do everything within my power to improve their wellbeing. 

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Eric Hovde is the Republican candidate for the U.S. Senate in Wisconsin. He is the CEO of Hovde Properties, a Madison-based real estate development company.



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A Wisconsin family is suing Target after their 10-month-old died from swallowing a water bead

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A Wisconsin family is suing Target after their 10-month-old died from swallowing a water bead


A Wisconsin family lost their ten-month-old daughter after she swallowed a water bead. They blame Target and the water bead manufacturer for her death. 

This week, Taylor and Tyler Bethard filed a lawsuit against Target in Hennepin County, claiming that the company failed to warn them and other customers about the dangers of a water beads product that used to be sold exclusively at Target.

Water beads are marketed as toys that come with sensory kits or craft sets, but data shows the products are prone to injuring young children. The polymer material is extremely absorbent, allowing water beads – which are often colorful – to expand around 100 times their original size when they interact with water or liquid. This presents a hazard for kids; the United States Product Safety Commission states that between 2017 and 2022, there were 6,300 water bead-related ingestion injuries that required treatment from emergency departments across the country. 

In 2023, a 10-month-old girl died. Her name is Esther “Jo” Bethard. According to court filings, Taylor Bethard found her daughter unresponsive in her crib on the morning of July 7, 2023, after she had suffered symptoms of a stomach illness overnight. Medical examiners told the family that her death was caused by swallowing a single water bead. 

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The Bethards had purchased a Chuckle and Roar water bead set in the spring of 2022 for Esther Jo’s older siblings, never intending for the infant to interact with the water beads. 

Target and the Chuckle and Roar manufacturer, Buffalo Games LLC, mutually agreed to pull the product from the shelves in November of 2022. Court records show an email exchange between Buffalo Games and a product safety employee at Target where the manufacturer noted that while their water beads had met safety standards at the time, they wanted to “avoid any future unintended misuse of the product.” 

That conversation was prompted after Buffalo Games was informed that an infant required surgery after ingesting a water bead from the Ultimate Water Beads kit. Target agreed to end sales, indicating that this would be classified as a “safety removal.” 

The Bethard’s lawsuit alleges that Target clearly knew how dangerous these water beads could be, but failed to warn them or other customers. Target stopped selling the product about eight months before Esther Jo died. Daniel Mann, a personal injury attorney representing the Bethards in this case, said that Esther Jo would still be alive if Target had acted. 

“With all this information Target didn’t do anything to reach out to the family or other consumers to let them know about this problem,” Mann said, “I think 10/10 people would say Target had a responsibility to do more than what they did, which was nothing.” 

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A spokesperson for Target said that they would not comment on ongoing litigation, but the company had already responded to an identical complaint filed by the Bethards in the State of New York. In 2025, the Bethards sued both Target and Buffalo Games in Erie County, N.Y., because that was where the manufacturer was based. In response to the lawsuit there, court filings show that Target denied the allegations that they knew of an extraordinary danger posed by the water beads and failed to notify customers. 

The complaint was dismissed against Target in New York, Mann explained, due to jurisdiction. This lead to them refiling in Hennepin County this week. 

In a statement to WCCO on the new legal action, a Target spokesperson said “We extend our deepest sympathies to those affected by this tragedy, and we worked closely with the manufacturer of the product at the time the incident occurred.” 

Taylor Bethard, Esther Jo’s mother, has lead the charge to ban water beads entirely. Her efforts lead to the United States Consumer Product Safety Commision recalling the more than 52,000 Chuckle and Roar Ultimate Water Beads Activity Kits that were in circulation. The recall took effect in September of 2023. Target, Walmart and Amazon announced that they would stop marketing water beads to children. 

Bethard is also working with Wisconsin U.S. State Senator Tammy Baldwin to establish federal legislation to permanently outlaw all water beads. This past spring, the CPSC established new legal guidelines that restrict the size of water beads to try to ensure high safety standards.   

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Wisconsin State Patrol rides with truck and bus drivers to spot violations in five areas

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Wisconsin State Patrol rides with truck and bus drivers to spot violations in five areas


(WLUK) — Wisconsin State Patrol troopers are teaming up with truckers to better spot dangerous driving behaviors.

The annual Trooper in a Truck initiative kicks off next week in Wisconsin.

Troopers will ride along with with semitruck and bus drivers to use the higher vantage point to spot dangerous driving behaviors, especially near commercial motor vehicles.

Troopers will be looking for risky driving behaviors, including distracted driving, speeding, following too closely and seatbelt violations. When an officer identifies a violation from the truck or bus, they will radio to patrol cars in the area for appropriate enforcement action.

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Drivers can expect to see Trooper in a Truck enforcement in the following areas:

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New Wisconsin AD Shawn Eichorst: Badgers Need ‘Texas Swagger’ And Less Humility

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New Wisconsin AD Shawn Eichorst: Badgers Need ‘Texas Swagger’ And Less Humility


New Wisconsin athletic director Shawn Eichorst, who spent the last eight years at Texas, believes his new and old schools have much in common.

Both are well-regarded research universities in state capitals that belong to major conferences and have relatively similar enrollments.

He also pointed out one difference.

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“There’s swag at Texas, right?” Eichorst said Tuesday during his introductory news conference. “There’s 30 million people in Texas. We’ve got swag, too, but we have a little humility with that deal. We need to get our shoulders up. We need to feel good about what it is that we’re doing.”

Wisconsin could gain more of that Texas swagger if its football program gets back to winning the way it did the last time Eichorst was employed in Madison. Eichorst, who most recently worked as a deputy athletic director at Texas, received a five-year deal worth $1.6 million annually, with provisions for increases and incentives. He was hired 2½ months after Chris McIntosh left to become the Big Ten’s deputy commissioner for strategy.

Eichorst worked at Wisconsin from 2006-11 when Barry Alvarez was AD and Bret Bielema was leading the football program. He followed that up with stints as an athletic director at Miami (2011-12) and Nebraska (2012-17) before Texas athletic director Chris Del Conte hired him in 2018.

He returns to Wisconsin with the Badgers coming off back-to-back losing seasons in football, a notable fall for a program that had 22 straight winning seasons from 2002-23. Wisconsin coach Luke Fickell has gone 17-21 after posting a 53-10 record with one College Football Playoff appearance in his last five years at Cincinnati.

Eichorst hasn’t worked with Fickell before but said he’s encouraged by their initial conversations.

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“Obviously he’s won every place he’s been,” Eichorst said. “My expectation is more of me than him, meaning I need to pour into him, learn more about his program, how he has things set up, how his athletes are taken care of, how we’re supporting that endeavor. And then we can figure out, as we move along, what that might look like.”

Football struggles led to Eichorst’s downfall the last time he was an athletic director.

He fired Nebraska coach Bo Pelini in 2014 and hired Mike Riley, who had gone 93-80 in 14 seasons at Oregon State. Eichorst was dismissed shortly after Nebraska suffered an early-season loss to Northern Illinois in 2017. Riley was fired at the end of that season after going 19-19 in three years.

When Eichorst’s hiring was announced last week, he spoke about how much he had grown from that Nebraska stint. Wisconsin interim chancellor Eric Wilcots led the search and has emphasized Eichorst’s accomplishments at Texas, which has won the Learfield Directors’ Cup all-sports standings five times in the last six years.

Texas ranked anywhere from fifth to ninth in the Directors’ Cup standings in the five years before Wilcots’ arrival. Texas’ football team went a combined 23-27 from 2014-17 but has made two College Football Playoff appearances in the last three years.

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“Everybody looks at the end result of what we did at Texas,” Eichorst said. “When we got there in 2018, we weren’t very good in a lot of areas. And that didn’t change overnight.”

Eichorst said one thing that has caught his attention about Wisconsin is the overall quality of its head coaches.

“You’re going to be as good as your coaches,” Eichorst said. “That’s it. If you have an elite group of coaches who are working together and uniting and galvanizing and learning from one another and taking it out to their individual programs, I think you can start to build something special. I go back to Texas. We built a room of really elite head coaches and put them at the top of everything we did to help guide us.”

Eichorst said this job is particularly important to him because of his Wisconsin roots. He was born in Lone Rock, about 45 miles northwest of the Madison campus.

He treasured his previous stint at Wisconsin and says he believes this school “represents everything that is great about higher education and college athletics.”

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“Nobody will work harder for Wisconsin athletics,” Eichorst said. “I love this state, and I love everything that it represents. The passion is there. You can see it. I don’t have to make it up. I’ve lived it. It’s in my heart.”

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AP college sports: https://apnews.com/hub/college-sports



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