Vice President JD Vance has openly undermined the president’s promise to “immediately bring prices down,” arguing that it will take time before Americans see more money in their pockets.
In an interview with the Washington Post published Wednesday morning, the Vice President said officials “have to be honest with the American people” about what they can achieve on the economy.
“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, and we’re going to fix that in a day—there was no way it was ever going to happen,” he said.
The Daily Beast has contacted the White House for comment.
Vance’s remarks undercut Trump’s previous promise to bring down prices for Americans on day one of his second term.
“When I win, I will immediately bring prices down, starting on Day 1,” Trump said in August 2024.
He also said he would “reduce energy and electricity prices by at least half within a 12-month period.”
In 2025, the typical U.S. household saw its electricity bill rise by 6.7 percent compared with the previous year, according to The Guardian. That increase translated to nearly $116 more per household over the course of the year than in 2024.
During his record 108-minute State of the Union address last week, Trump praised his own “roaring economy,” which was “roaring like never before,” claiming that the nation is “back bigger, better, richer and stronger than ever before.”
The data tells a different story. A poll following his address revealed that 68 percent of Americans disagree.
Due to bird flu, egg prices have risen by 20 percent to a record average of $4.95 per dozen. Meanwhile, Fair Market Rents for one- and two-bedroom apartments have jumped about 40 percent since fiscal year 2021, according to a recent LendingTree study.
Trump’s unpopular tariffs have also affected prices.
A February study by the Tax Foundation found that the average American household will pay an extra $1,300 in 2026 due to Trump’s tariffs.
And polls suggest that Americans are feeling the impacts of price rises.
A February Washington Post-ABC News-Ipsos poll found that 48 percent think the economy has gotten worse under Trump.
When asked about their personal finances since Trump’s return to the presidency, 22 percent said they are better off, 33 percent said worse off, and 44 percent reported no change.
Meanwhile, the latest Reuters/Ipsos poll, conducted between February 18-23, found that 68 percent of people disagree with a statement that “the U.S. economy is booming,” a statement Trump has consistently repeated since resuming office in January 2025.
Some 43 percent of Republicans also disagreed with the statement.
The Trump administration has repeatedly sought to blame the Biden administration for the state of the economy.
Earlier this month, Vance told Fox News the administration was “pushing a car uphill” after taking office with an economy he described as weakened under Biden.
In May 2025, Trump told business leaders: “This is Biden’s economy because we took over on January 20th.”
But polling suggests that the blame-game message is not resonating with voters. A December Quinnipiac University poll found that 57 percent of Americans blame Trump, not Biden, for the current state of the economy
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