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BLS integrity attacks are dangerous for economy and evidence-based policy: Aspen's Melissa Kearney
CNBC Televisionยท 2025-08-05 12:38
Economic Concerns & Policy - The dismissal of a technocrat, the head of an agency, due to disagreement with official government statistics is considered dangerous for the economy and evidence-based policy [1] - The credibility of data from the Bureau of Labor Statistics (BLS) is crucial for businesses, investors, and policymakers, as they rely on objective, non-political data [1] - There are concerns about the politicization of the BLS commissioner role, making it difficult to find qualified individuals willing to take the job [2] Economic Resilience & Challenges - The economy has shown remarkable resilience to shocks, including the pandemic and tariffs [3][4] - Despite the economy's strengths, millions of Americans face challenges related to rising healthcare and housing costs [5] Budget & Spending - The budget deficit is a significant concern, especially with Congress passing legislation that adds $3 to $4 trillion in debt over the next 10 years [6][8] - Tariffs are seen as a source of revenue but are not sufficient to bring down costs [7][8] - The recent bill includes cuts to Medicaid and SNAP to offset the cost of extended tax cuts [9] - Rebalancing domestic spending priorities is necessary [10]