Fast Politics with Molly Jong-Fast Justin Wolfers & Jacob Soboroff
Oct 4, 2025
Justin Wolfers, an economist and host of Think Like an Economist, dissects the unexpected halt of job statistics due to the government shutdown and exposes errors by the Council of Economic Advisors. Jacob Soboroff, a senior political correspondent at MSNBC, sheds light on the troubling realities of ICE raids affecting U.S. citizens, sharing compelling personal stories of deportations. Their conversation dives into the broader implications of these issues on trust in government and community responses, underscoring the human cost of immigration policies.
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Shutdowns Silence Critical Data
- Government shutdowns can halt data publication even when data are collected, wasting millions and undermining trust.
- Justin Wolfers says BLS numbers exist but staff can't publish them because they're furloughed.
Economists Miscalculate Shutdown Costs
- The Trump Council of Economic Advisors overstated shutdown costs due to an arithmetic error.
- Wolfers says the real macroeconomic hit is tiny but the waste and political signaling remain harmful.
Data Agencies vs. Political Messaging
- Statistical agencies still aim to tell the truth, but political rhetoric from the White House can't be trusted by default.
- Wolfers warns that lying within the administration corrodes good policy and truth-telling.
