Trump Says America Is Entering a 'Golden Age' — as Veep JD Vance Insists Voters Are Still Waiting for Economic Relief
The unemployment rate recently rose to 4.6%.
Oct. 21 2026, Published 1:29 p.m. ET
President Donald Trump and Vice President JD Vance are offering voters notably different messages about the U.S. economy as the 2026 midterm elections approach.
Trump has declared that America is in a “golden age,” while Vance has acknowledged that high gas prices and other costs are still hurting households.
The divide comes as Americans express growing frustration with the economy. Consumer confidence fell in September to its lowest level since April 2014, while the average 30-year mortgage rate climbed to 7.49% and unemployment edged up to 4.2%.
Trump Sells Economic Turnaround
Trump has cited manufacturing investments to promote his economic agenda.
Trump has repeatedly promoted investment, factory construction, and other economic gains while portraying his second term as a dramatic turnaround from the previous administration.
At a Nebraska rally on Oct. 5, he said, “The golden age of America is upon us,” while pointing to billions of dollars in new construction and investment.
He has also described the economy as an “A+” and dismissed affordability concerns as a “hoax.”
Trump has also defended higher gasoline prices as a temporary sacrifice tied to the war with Iran.
At the Nebraska rally, he said the increase was a “small price to pay” for keeping the country safe.
He later said he was referring to higher gas prices rather than suggesting American cities should be attacked.
But polling shows that message is not translating into broad approval. An AP-NORC poll conducted Sept. 24-28 found that just 17% of adults approved of Trump’s handling of the cost of living, while 26% approved of his handling of the economy.
Sixty-five percent said higher-than-usual prices were the result of Trump’s policies.
Vance Recognizes Cost Pressures
Vance has publicly acknowledged that gas prices are too high.
Vance has taken a more direct approach to voters who say they are feeling the squeeze.
During a CBS News town hall that aired Oct. 17, Vance said, “I recognize that gas prices are too high right now” and acknowledged that the administration needed to do more.
He also explained that new investments have to translate into factory construction before they can produce more manufacturing jobs.
Vance has paired that acknowledgment with an argument that the administration inherited serious economic problems.
In September, he said some Americans were “frustrated by the pace of progress” but argued that the administration was working to address the problems left by President Joe Biden’s administration.
Voters Weigh Promises Against Prices
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U.S. mortgage rates reached their highest level in nearly three years.
Some Trump supporters say the president’s optimism does not fully match what they are experiencing.
Conda Little, a 76-year-old retiree who attended Trump’s rally in Dalton, Georgia, said she believed Trump “talks it up” and viewed Vance as more realistic. She also said high gas and grocery prices were difficult for families.
Other supporters remain satisfied with Trump’s approach despite higher expenses. Mary Bunker, a 67-year-old Republican who works multiple jobs, said she feels the pressure of gas prices but supports the tax breaks Trump signed into law last year.
The economic debate is unfolding with less than two weeks before the Nov. 3 midterm elections.
A new AP-NORC survey found that 85% of voters consider the economy one of the most important issues in deciding how to vote, while 84% say the same about the cost of living. About three-quarters disapprove of Trump’s handling of both issues.
Another recent NBC News poll found that 71% of Americans believe the country is on the wrong track, with the economy ranking as the top issue for 31% of respondents.
