The economy may feel unaffordable to millions of Americans, but according to NYU professor and entrepreneur Scott Galloway, it continues to power forward because of the people who keep it running.
On an episode of Raging Moderates, Galloway called the U.S. economy “just incredible” and credited everyday Americans for its resilience:
“People get up every day and innovate and do incredible things.”
President Donald Trump has been promoting what his campaign calls an “affordability blitz,” highlighting falling gas prices and arguing that tariffs will ultimately help the middle class.
But the hosts of Raging Moderates, Galloway and Democratic strategist Jessica Tarlov, pushed back, pointing to falling consumer sentiment, rising prices in January, and over 1.1 million layoffs this year, especially among small businesses.
“Trump promised lower prices, but tariffs, Medicaid cuts, and rising health care costs have left him playing defense and scrambling to sell an economy many Americans say still feels really unaffordable,” Galloway said.
Despite that, Galloway expressed amazement that the economy hasn’t completely broken down.
“I’m shocked the economy isn’t worse given how just stupid these policies have been,” he said.
“Every nation in the world is trying to reroute their supply chain around ours, raising our costs… and yet the economy just grinds on.”
Affordability Crisis Meets Political Spin
He criticized both parties for failing to provide real answers on affordability.
“We’ll spend a lot of time talking about how f***ed up the economy is and then offer no solutions around affordability,” he said, adding that tariffs don’t make things cheaper: “There’s just absolutely no case for tariffs making more affordable.”
To get serious about lowering costs, Galloway laid out a three-part plan:
- Housing: Build 8 to 10 million new homes over the next decade, ease zoning restrictions, embrace manufactured homes, and offer government-backed loans to younger buyers.
- Healthcare: Nationalize medicine, lower Medicare eligibility gradually, and focus on reducing U.S. healthcare costs, which are twice as high as other G6 countries.
- Education: Tie tuition to income, remove tax-exempt status from elite schools that don’t expand class sizes, and make higher education more accessible.
He also called for aggressive antitrust action across industries, “Big chicken, big egg, big streaming”, warning that consolidation was driving up costs across the board.
“Netflix should not be allowed to buy HBO,” he said, noting that streamers raised prices 13% in just the past year. “The rivers need to reverse for a little bit,” Galloway added.
No Data, No Visibility
The episode also highlighted a concerning lack of federal economic data. With no official jobs report, GDP data, or inflation numbers released recently, the hosts likened it to flying blind.
“We’re trying to land a $25 trillion economy on a hard surface without instruments,” Galloway said.
“We’ve become China, except China’s smarter than us. They actually have the data internally.”
He warned that without reliable data, it’s impossible for the Federal Reserve, companies, or voters to make informed decisions.
“This leads to an economy that’s much more prone to stroke,” he said.
GOP Divisions and the Future of ACA Subsidies
Congress is also battling over the future of the Affordable Care Act subsidies, with a key vote looming.
Democrats are pushing for a clean three-year extension to avoid huge premium hikes in January. Republicans remain split, and so far, no plan has gained enough traction.
Tarlov predicted the subsidies would expire and said Democrats would use it to highlight Republican inaction.
“They’re taking Medicaid away from millions of people with the Big Beautiful Bill. Your premiums spiked because of Republicans.”
Texas Senate Race Heats Up
The conversation shifted to Texas, where a surprise Democratic primary between James Talarico and Jasmine Crockett is shaping up for the 2026 Senate race. Crockett has the national profile, while Talarico is seen as a stronger general election candidate.
Tarlov said Crockett’s high-profile style might play into right-wing caricatures of Democrats, especially in a red-leaning state like Texas, and noted that Crockett’s launch video lacked specific messaging about Texas issues.
Galloway, meanwhile, praised both candidates. “Representative Crockett is a hero of mine,” he said. “I think she’s courageous, compelling, unafraid, smart… I absolutely love both of them.”
Despite the grim headlines, the U.S. economy, for all its structural issues and policy misfires, continues to push forward, largely thanks to the innovation, resilience, and daily efforts of regular Americans.
It’s not policy that’s holding it all together, but the people powering through.