Bulwark Takes Trump’s Economic Numbers Don’t Add Up
Nov 23, 2025
Catherine Rampell, an astute opinion writer and economist, joins Bill Kristol to dissect the puzzling state of the economy. They tackle missing government economic data and the risks of relying on imperfect private statistics. Rampell highlights the struggles facing young workers amid a K-shaped recovery, while also critiquing the administration's selective economic messaging. They ponder the uncertainties surrounding tariffs, Fed independence, and the implications for inflation. Plus, discussions on holiday shopping trends promise to keep listeners engaged!
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Cherry-Picked Retail Data Misleads
- The administration has selectively cited retail and corporate promotions (e.g., Walmart bundles, DoorDash) to claim falling prices.
- Those examples are misleading because they don't represent broad, apples-to-apples economic measures.
Labor Market Solid But Fragile
- As of September the job market remained solid but showed growing fragility: slower openings and slightly higher unemployment.
- Inflation has ticked up modestly, partly driven by tariffs and other supply shocks, squeezing profit margins.
Younger Workers Face Weaker Entry Market
- Recent college grads and young workers face rising unemployment and fewer openings, reducing economic dynamism.
- Causes are uncertain (tariff uncertainty, AI, general hesitancy), but effects harm entry-level mobility.