Iowa’s Ashley Hinson Slams the Savings Habits of Millennials

Key sector observers are monitoring fresh developments today as Iowa Rep. Confirmed according to dispatches from Politico US Politics & Policy, the situation highlights broader operational implications for key stakeholders.

Iowa Rep. Ashley Hinson took a swipe at the savings habits of millennials as she fielded a question Wednesday about Social Security during a Senate campaign debate.Hinson, the Republican candidate facing off against Democrat state Rep. Josh Turek, was asked about ensuring the solvency of Social Security when she raised the broader prospect of savings by millennials, the demographic consisting of people born from 1981-1996.She said the country needed to have a “serious conversation” about “how young people are saving money,” as part of the discussion about the future of Social Security.“We also need to be talking about millennials saving money,” she later added. “Millennials are the worst group of savers in the country right now and have the least amount of savings. So those are ways where I think we can help have a bigger conversation around saving in general, planning for retirement and making sure we're all able to experience a robust retirement.”Hinson faces a tough race in Iowa against Turek amid a difficult political environment for Republicans. Voters are overwhelmingly pessimistic about the state of the economy and their own personal finances, and they support Social Security while being concerned about the program’s future.Hinson said she would not support cutting benefits and suggested creating a bipartisan commission to present suggestions to Congress to save the program. When pushed on her statement that “all options should be on the table,” she turned her attention to young people.“I think my dad and I had this discussion when I was in sixth grade, looking at a ledger book and trying to figure out, 'Hey, how are we going to make sure you're set up for your life?'” she said. “So we need to be having a conversation simultaneously to all solutions on the table, to make sure that it can stay solvent, while we're also talking about, 'How do we get more young people to save?'”Hinson’s campaign did not immediately respond to a request for clarification.Turek, when asked about Social Security, said he supports removing the payroll tax cap.“The best way we can keep this solvent is by taking off the cap,” Turek said. “Let's make sure that billionaires and large corporations are paying their fair share. That will move the needle in a very serious way to keep Social Security solvent.”Hinson disagreed. “The only thing I'm hearing from him is that the only solution to everything is to raise taxes,” she said.

Market & Strategic Implications

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