Why everyone is wrong about the economy | Jason Furman | The Reason Interview with Nick Gillespie

Former Obama administration economic adviser Jason Furman explains why both major parties have abandoned economic reality in favor of political fantasy.

https://reason.com/podcast/2025/04/16/jason-furman-why-everyone-is-wrong-about-the-economy/

0:48— Failure of Bidenomics & the 'neoliberal delusion'
6:00— The neoliberal coalition breakdown
9:37— Trump's post-neoliberal economics
13:08— Biden's biggest economic failures
16:25— Why 'free money' is a bad thing
18:28— The Age of No Accountability
20:19— Why tariffs make no sense
23:52— How Furman 'zigzagged' on debt
29:42— How to get politicians to take the debt seriously
36:32— How to fix social security and Medicare
39:58— Has Furman changed his mind about Keynesian economics?
43:10— Furman's background and the future of Economics
46:50— Furman's outlook on AI
50:16— The Luddite impulse towards technological advancement

Today's guest is Harvard economist Jason Furman, who was one of former President Barack Obama's chief economic advisers and an architect of the Affordable Care Act. These days, he's in the news for his withering critique of former President Joe Biden's dismal economic record and two-fisted attacks on President Donald Trump's trade policy. We talk about Furman's defense of global markets, Obamacare's unfulfilled promises, and why he now thinks the national debt and AI are bigger deals than he used to believe.

Video Editor: Ian Keyser

Photo credits: CNP/AdMedia/Newscom, Andrew Leyden/ZUMAPRESS/Newscom, KEVIN DIETSCH/UPI/Newscom