Raging Moderates with Scott Galloway and Jessica Tarlov

Episode: The Affordability Crisis Trump Can’t Spin

Date: December 10, 2025

Host: Vox Media Podcast Network

Overview

This episode tackles the ongoing U.S. affordability crisis through a centrist lens, focusing on President Trump’s attempts to control the narrative, the political and economic realities facing Americans, the role of women in the GOP, and the latest twists in the Texas Senate race. Scott Galloway and Jessica Tarlov dissect policy failures, economic data, the performance (or lack thereof) of both parties, and the strategic implications for 2026 and beyond. The discussion blends policy analysis, pointed criticism, and personal anecdotes, all wrapped in the duo’s signature banter.

Key Discussion Points & Insights

1. The Affordability Crisis and Presidential Spin

Segment Start: [03:31]

• Trump’s Affordability "Blitz":
  Trump pitches lower gas prices and tariffs as middle-class wins, but economic signals contradict him—consumer sentiment is low, layoffs are up, and retailers foresee further price hikes.

  “Layoffs have already topped 1.1 million this year, with small businesses hit hardest…Trump promised lower prices, but tariffs, Medicaid cuts and rising healthcare costs have left him playing defense and scrambling to sell an economy many Americans say still feels really unaffordable.”
  — Scott Galloway [04:13]

• Bipartisan Spin:
  Tarlov draws parallels to Democrats previously downplaying economic pain, critiquing both parties for failing to “show their work” on policy efficacy.

  “Watching Republicans very much do the same things that Democrats did when they were defending an economy that average Americans were screaming from the rooftops is not working for them is the height of stupidity.”
  — Jessica Tarlov [05:07]

• Root Causes According to Galloway:

  • Tariffs don’t improve affordability long-term; hurt innovation.

  • Politicians avoid discussing hard solutions like boosting housing supply, nationalizing healthcare, and tough antitrust enforcement.

  • Both parties offer band-aids, not real reform.

  • The resilience of the U.S. economy is due to daily innovation, not smart policy.

    “I'm shocked the economy isn't worse given how just stupid these policies have been and the fact that every nation in the world is trying to reroute their supply chain around ours.”
    — Scott Galloway [07:34]

• Concrete Solutions Proposed by Galloway:

  • Aggressively expand affordable housing via tax credits, YIMBY laws, and new construction tech.

  • Nationalize medicine, expand Medicare eligibility gradually.

  • Tie college tuition to family income; threaten tax-exempt status for stagnant, ultra-wealthy universities.

  • Enforce antitrust, especially in sectors like streaming and agriculture.

    “If we’re really gonna have an adult conversation around affordability, let’s have an adult conversation. The problem is it’s boring shit that will take years, if not decades.”
    — Scott Galloway [11:38]

2. Economic Data Blackout and Its Consequences

Segment Start: [12:14]

• No Official Economic Reports:
  Tarlov notes the government is withholding jobs, GDP, and inflation data, speculating on political motives and market/investment impacts.

  “We got no jobs report, no GDP report, and now no inflation report. So we're never going to see a number out of this government again...What are the real world implications of not having good data around what's going on in our economy?”
  — Jessica Tarlov [13:17]

• Galloway’s Analogy:
  Flying a $25 trillion economy blind, likens it to landing a 747 with no instruments:

  “When you don’t have data, as we don’t, we’re trying to land a $25 trillion economy on a hard surface. Without instruments, we don’t know what’s going on. And we’ve become China. Except China’s smarter than us.”
  — Scott Galloway [13:53]

• Risks of Data Concealment:

  • Weakens Fed and business decision-making.

  • Erodes voter ability to hold officials accountable.

  • Pushes society to rely on speculation rather than facts.

    “This leads to an economy that's much more prone to stroke.”
    — Scott Galloway [15:45]

3. ACA/Obamacare Subsidy Drama

Segment Start: [15:45]

• Stalemate in Congress:
  Multiple Republican and bipartisan proposals float, but a clean Democratic extension is likely to fail; premium hikes loom.

  • Thune’s role: Both hosts share personal anecdotes about meeting Senator John Thune to humanize the discussion.

    “I think that the premium hikes are going to go through...Republicans have been trying to get to their goal of repealing and replacing Obamacare...and still have never brought anything decent that speaks to the way that Americans want their healthcare delivered.”
    — Jessica Tarlov [18:18]

• Political Framing:
  Potential fallout for the GOP if premiums spike; Democrats may campaign as defenders of healthcare access.

  “Could be a net advantage for Democrats because we'll get to own this issue that Republicans literally don't care about your health care.”
  — Jessica Tarlov [19:20]

4. Women and Power Inside the GOP

Segment Start: [22:42]

• Nancy Mace’s Op-Ed:
  Mace criticizes GOP leadership for sidelining women and failling to deliver for voters; contrasts with Democratic effectiveness under Nancy Pelosi.

  "May says Republicans are petrified of losing power, too timid to deliver for their base, and far less effective than Democrats...unless the GOP starts governing boldly...they’ll lose their majority and deservedly so."
  — Scott Galloway [22:50]

• Realities of GOP Culture:
  Tarlov: Mace’s move is strategic (possible gubernatorial run) and part of a “vibe shift”—frustration, lack of legislative action, mass retirements on the horizon.

  “I like that she shouted out Nancy Pelosi though, and how effective she is...They all respect what an amazing power broker she was and continues to be, even not in leadership.”
  — Jessica Tarlov [24:36]

• Marjorie Taylor Greene Mention:
  Galloway dismisses her efforts to rebrand as moderate.

  “I felt like I was watching an arsonist lecture us on fire safety...I just can’t wait for her to exit stage right, stage left, stage. Get the fuck off the stage.”
  — Scott Galloway [25:18]

• Internal GOP Instability:
  Galloway notes prediction markets show a 65% chance of Speaker Johnson being ousted before midterms.

5. Texas Senate Race: Talarico vs. Crockett

Segment Start: [28:59]

• Race Overview:
  Unexpected Democratic showdown between Talarico (bipartisan appeal, policy) and Crockett (progressive, national profile) after Colin Allred switches races due to redistricting.

• Messaging Caution:
  Tarlov fears Crockett’s national persona may feed “leftwing caricature” narrative and distract from affordability, housing, and border issues central to Texas.

  “This is the affordability election. Like, let's talk about what's happened to everyday Texans, right?...We are about to have like an ugly Donald Trump centric race.”
  — Jessica Tarlov [31:06]

• Galloway’s Admiration:
  Loves both candidates, praises Crockett’s courage and Talarico’s faith-driven politics; admits he’s funding both.

  “I love both these people...I think Talarico’s ability to incorporate faith into public policy is just really elegant and powerful...Crockett is a hero of mine...courageous, compelling, unafraid, smart. I just think she’s outstanding.”
  — Scott Galloway [32:19]

• Strategic Concerns:

  • Texas remains tough terrain for Democrats; choosing the “right candidate for the right race” is key.

  • Primary electorate vs. general election dynamics highlighted.

  • Galloway defers to Tarlov’s pragmatism and polling expertise.

    “You don't wanna just win a primary like you wanna win a general.”
    — Jessica Tarlov [37:35]

Notable Quotes & Memorable Moments

• On Tariffs/Affordability:

  “If he was serious about affordability, there's just absolutely no case for tariffs making shit more affordable.”
  — Scott Galloway [08:40]

• On Data Blackout:

  “This is just like Trotsky being erased from photos because we don't like what he represented.”
  — Scott Galloway [14:45]

• On Congressional Dysfunction:

  “It's going to be the biggest do nothing Congress in American history.”
  — Jessica Tarlov [24:02]

• On Texas Democrats:

  “It’s like on an amazing day, [Texas is] purplish. Right. And it's usually red and on the right.”
  — Jessica Tarlov [35:21]

• On Women in Leadership:

  “I wanted to say hello, you do such a great job. And I thought that that was so nice and not everybody behaves that way. There are Republicans who avoid me like the plague when they see me in a social situation and [Thune] beelined and was delightful and also very, very handsome.”
  — Jessica Tarlov [18:02]

Timestamps of Important Segments

• [03:31] — Introduction to the affordability crisis and Trump’s messaging
• [05:00] — Tarlov’s critique of spinning economic data
• [07:34] — Galloway on U.S. economic resilience and failures of both parties
• [12:14] — Critique of U.S. handling of economic stats blackout
• [15:45] — ACA/Obamacare subsidy drama and predictions
• [22:42] — Nancy Mace op-ed, women in the GOP, and party dysfunction
• [28:59] — Texas Senate race: Talarico vs. Crockett, and analysis of Democratic prospects

Tone & Language

• Conversational, wry, and candid: frequent asides, personal stories, and pop culture references
• Centrist/reality-based: Both hosts critique failures on right and left, seeking pragmatic solutions

Final Takeaway

"Raging Moderates" in this episode delivers a scathing and often humorous indictment of both parties’ inability to address America’s mounting affordability woes. While Scott and Jessica acknowledge the resilience and innovation of Americans, they warn that lacking real, data-driven solutions and legislative courage, neither side is giving the voters in the middle what they want. Ultimately, the path forward will require tough choices, long-term investment, and leaders willing to run real policy experiments—not just spin.