Vice President JD Vance urged Americans to be patient on economic improvement, saying the administration cannot quickly erase what he described as cost-of-living setbacks that built up under former President Joe Biden.
"We have to be honest with the American people" about what is possible, Vance said in an interview with The Washington Post while returning from an event in Wisconsin.
"The idea, as much as I would like it to be true, that we were going to completely undo the $3,000 of take-home pay that was eroded under the Biden administration ... in a day — there was no way it was ever going to happen," Vance said.
Vance's remarks come as President Donald Trump and Republicans head toward the fall midterm elections with voters still sour on affordability, even as the White House argues key indicators are moving in the right direction.
A Washington Post-ABC News-Ipsos poll found 48% of Americans said the economy has worsened since Trump took office, compared with 29% who said it has improved, while 53% said they have just enough money to maintain their standard of living.
Inflation has cooled from earlier highs, with the Labor Department reporting that consumer prices were up 2.4% over the 12 months ending in January and up 0.2% in January from the prior month on a seasonally adjusted basis.
Labor Department data shows real earnings have risen over the past year, but many households remain frustrated because prices are still far above where they were before the inflation surge that followed the pandemic.
Trump campaigned on a promise to bring down prices quickly and has pointed to stock market gains and easing costs for some goods as evidence that his policies are working, while Democrats argue that everyday expenses are still outpacing paychecks for millions of families.
Vance said the administration is pursuing measures aimed at helping Americans who feel left out of broader economic growth, including efforts to lower certain prescription drug prices and a proposal to expand access to retirement accounts for workers who do not have an employer-sponsored plan.
The retirement idea, which Trump highlighted recently, would create tax-advantaged accounts modeled on the federal government’s Thrift Savings Plan and include a government match of up to $1,000 a year, though key details would require congressional action.
On immigration, another political flashpoint, Vance said the administration was "shocked" by how quickly illegal border crossings dropped after Trump returned to office, crediting stepped-up enforcement and policy changes.
Still, he acknowledged slipping approval ratings, with 58% of Americans in the same Post poll saying Trump has gone too far on deportations.
"Political leadership," Vance said, "means accepting that when you solve one concern, voters move on to the next."
The White House has argued its approach will lift wages and lower costs, but Vance's comments underscored an emerging message from Trump's team: Even with inflation easing, reversing years of price increases and restoring purchasing power will take time.
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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