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Vance Discusses Trump Economic Plan

Vance Discusses Trump Economic Plan

In a high-stakes interview on CBS’ Face the Nation this Sunday, Vice President J.D. Vance laid out the Trump administration’s strategy for tackling inflation, a centerpiece of the president’s campaign promises. Facing pointed questions from host Margaret Brennan, Vance defended the administration’s rapid actions since taking office and emphasized that relief for consumers is on the horizon, even if it will take time for results to materialize.

Brennan pressed Vance on when Americans can expect to see tangible changes in the cost of living, particularly at the grocery store. Vance highlighted that the administration has already taken significant steps in just its first week, pointing to executive orders aimed at bringing jobs and capital investment back to the United States.

“We’ve done a lot,” Vance stated confidently, “and there have been a number of executive orders that have caused already jobs to start coming back into our country, which is a core part of lowering prices.” He explained that an increase in domestic investment and job creation will not only reduce costs for consumers but also raise wages, enabling Americans to better afford essential goods.

Energy policy emerged as a focal point in the conversation. Vance underscored the direct link between energy costs and inflation, framing the administration’s actions as critical to reducing the price of goods. He highlighted the president’s Jan. 20 executive order titled the “Unleashing of American Energy,” which aims to expand domestic energy production, develop untapped reserves, and boost America’s role as a global energy supplier.

These moves, Vance argued, are key to driving down costs across the economy. “The way you lower prices is that you encourage more capital investment into our country,” he explained. “One of the main drivers of increased prices under the Biden administration was a massive increase in energy prices.”

While the administration is moving quickly, Vance cautioned that reversing the economic damage caused under Biden’s presidency will take time. “Rome wasn’t built in a day,” he said, emphasizing that although the Trump administration has made a robust start, the complexity of economic recovery requires patience. “We can’t undo all of the damage of Joe Biden’s presidency in four days.”

The conversation turned contentious when Brennan questioned the timing of economic relief, to which Vance responded with a clear example. “Margaret, how does bacon get to the grocery store? It comes on trucks that are fueled by diesel fuel. If the diesel is way too expensive, the bacon is going to become more expensive.” He further noted that high energy costs ripple through the entire supply chain, from production to transportation, impacting prices across the board. “If we lower energy prices, we are going to see lower prices for consumers. That is what we’re trying to fight for.”

The administration has also taken steps to declare a national energy emergency, with Trump stating that America’s vast untapped energy resources can not only meet domestic needs but also create jobs and restore economic prosperity through exports. The broader goal, Vance explained, is to ensure that America’s economy works for everyone, including those who have been left behind by previous policies.

Written by Mark Stevens - January 27, 2025