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The Bulwark Podcast

S2 Ep1041: Justin Wolfers: Trump's Centrally Planned Economy

The Bulwark Podcast

The Bulwark

Politics, News, News Commentary

4.68.9K Ratings

🗓️ 13 May 2025

⏱️ 56 minutes

🧾️ Download transcript

Summary

China sounds downright Reaganesque and is acting like a more stable, attractive trading partner than the country that launched a trade war. And even though Trump loves play-acting businessman, and calling CEOs by their first name, no one on Wall Street and no one who studies economics likes his continuing tariffs—they know they hurt American companies and American consumers. And the uncertainty is paralyzing. Meanwhile, the GOP will use fancy terms to try to paper over their budget, which would hurt the working class and dramatically increase the deficit—all for tax cuts.

University of Michigan's Justin Wolfers joins Tim Miller.

show notes

Transcript

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0:00.0

Hello and welcome to the Bullwark podcast. I'm your host Tim Miller. We are going deep on tariffs in the economy today. If you want my thoughts on some of the other issues of the moment, I've been a podcast slut lately. I was on Breaking Points today. Breaking Points is kind of the horseshoe podcast between Bernie and Maga types. And so that's interesting. We got to talk about the Newark Airport, David Hogg, the DNC drama, the Biden book, my political journey. So that could be interesting. We got to talk about the Newark Airport, David Hogg, the DNC drama, the Biden book,

0:39.4

my political journey. So that could be interesting. If that's not your cup of tea, I was also on with

0:45.3

Scott Galloway. I was guest hosting Raging Moderates. And so you could check out that too.

0:50.1

And we talked about, you know, all the stuff. So raging moderates, breaking points.

0:54.2

I'm on both of them.

0:55.6

But up next on this show, we've got Professor of Public Policy and Economics at the

0:59.0

University of Michigan.

0:59.8

He's also a senior fellow with the Brookings Institution.

1:02.7

And at the Peterson Institute for International Economics, co-host of the podcast,

1:08.1

Think Like an Economist and Audio Course in Economics. It's Justin Wolfers. Hey,

1:12.8

man. Hey. You're Aussie, I take it. You can tell just from the word hi. It's amazing.

1:19.2

You have an ear for an accent. I do. I do. Well, you know, I know the difference between the dingoes and

1:25.3

the Kiwis and all that. I'm wondering, how are you feeling about things down

1:29.6

there? We had a good election victory. Can we talk about that first before we get to the sad stuff?

1:33.9

Yeah, sure. One of my very dearest friends is part of the Labor Party government that was just

1:39.3

re-elected. Very interesting election for Americans to hear about, partly because I suspect there's not been

1:45.4

a lot of reporting. So you go back four months ago and the opposition Conservative Party was in the

1:51.6

lead in all the polls. The leader of that conservative party, like by the name of Peter Dutton,

1:57.7

decided he sort of run as a bit of Trump light. He, in particular, sort of anti-Woke.

2:04.1

And then he sort of started leaning into it.

2:06.2

Woke has hit Australia?

2:07.6

I didn't know that Woke's gone down under.

...

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