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A 'golden age' vs. 'we're working on it': Trump and Vance give different pitches on the economy

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A 'golden age' vs. 'we're working on it': Trump and Vance give different pitches on the economy
News

News

A 'golden age' vs. 'we're working on it': Trump and Vance give different pitches on the economy

2026-10-21 12:01 Last Updated At:13:22

WASHINGTON (AP) — President Bill Clinton famously said he could feel voters’ pain over the economy. But these days, when it comes to questions about high prices, President Donald Trump insists that the pain is his.

“They hit me with affordability, and that’s the first time I ever heard the word used,” he complained in Nebraska earlier this month.

The White House leaves Vice President JD Vance to use a softer touch. Last month in Texas, he admitted “there are people out there who are frustrated by the pace of progress." And during a CBS News town hall on Saturday, Vance said, “I recognize that gas prices are too high right now" and "we’re working on it.”

Depending on which Republican is speaking, Americans are getting a different perspective on how bad things are with the economy. Trump says “the golden age of America is upon us.” Vance walks a tightrope to show that he knows voters are feeling an economic pinch while still selling them on Trump's agenda.

The disconnect comes as Americans’ confidence in the economy sank to the lowest level in more than a decade this month, the average long-term U.S. mortgage rate jumped this month to its highest level in nearly three years and the unemployment rate ticked up last month.

Recent economic data released this month shows that high gasoline prices are intensifying inflation and more expensive oil and gas have begun to push prices up in other parts of the economy.

While most of Trump's supporters don't hold him at fault, some acknowledge that the president's penchant for salesmanship may not hit the mark.

"I think he talks it up,” said Conda Little, a 76-year-old retiree who went to see Trump in Dalton, Georgia, on Friday. “I think Vance is more real.”

Little takes the president at his word that he will achieve a victory over Iran in a way that benefits U.S. consumers back home. But she said it’s impossible to deny the fallout from the conflict.

“Everybody’s real upset about the gas” and “groceries are out of sight,” she said. “It’s hard. It’s really hard,” she said, adding that, “I think that people need to hear the truth.”

Trump is loath to acknowledge concerns. He told reporters earlier this month that he gives himself “an A+ on the government, on economics, on everything.” He has dismissed concerns about high costs, arguing that concerns about affordability are a “hoax.”

“We’re in the golden age of America. So our nation is doing better now than ever before,” he told a crowd in Kentucky on Saturday while campaigning for Republican candidates.

Trump has occasionally acknowledged that gas prices are high, but has called it “a small price to pay” for keeping the country and the world safe with the Iran war.

Trump’s discordant message with one of the top concerns voters are voicing ahead of the midterm elections has seemed heightened by his fixation on beautifying Washington and building a large ballroom at the White House.

During a visit this month to an economically struggling corner of Arizona, he regaled the crowd with the story about how he ended up with a luxury jet gifted by Qatar to use as Air Force One.

Vance, as he crisscrosses the country, is quick to say that the administration has more work to do.

To cast blame, the vice president often says that his administration’s Democratic predecessors put the country in such a deep hole that they need more time to climb out.

To show empathy, he often references his own experience growing up in a working-class family in a Rust Belt town. That's far different than Trump, who comes from a wealthy family, is a billionaire and even joked during his speeches on Friday and Saturday that if people have lunch at his Mar-a-Lago club, "for $5,000, you’ll get one hamburger and a small dessert.”

Vance, during a CBS News town hall that aired on Saturday, said: “I grew up in a working-class family. When gas prices were high, I know that it made my grandmother suffer, and I’m sure that you’re struggling with it in a variety of ways."

When asked by the moderator about the mixed message he and Trump are giving on the economy, Vance said Trump was speaking about new investments coming into the country, but said the changes take time.

“We need to do more, and we can certainly do better,” he acknowledged.

Some voters said Trump’s rosy view on the economy turns them away, like Santiago Rodriguez, a 19-year-old Texas college student who will be voting for the first time this year.

Rodriguez, who attended a campaign rally last week for Democratic Senate candidate James Talarico, said he would consider voting for a Republican but not while Trump is in charge because he doesn’t grasp the high cost of living for Americans.

“I think he’s out of touch, I think he’s never seen what a true day as a Texan or anybody in general who is in the working class,” Rodriguez said.

Trump's most loyal supporters aren’t interested in blaming high prices on anything the president has done.

Cindy Massengill, a 67-year-old who came to see Trump in Dalton, Georgia, said she felt he’s doing the best he can.

“I’m positive that he’s got done more than any other president after the mess we were left with Obama and Biden,” she said.

Mary Bunker, a 67-year-old Republican who attended Trump’s Monday rally near Wichita, Kansas, said she works multiple jobs, including as a waitress and DoorDash driver.

She feels the pressure of high gas prices, but she likes the tax breaks that Trump signed into law last year and she doesn’t fault the way he speaks about economic concerns.

“I think he’s a very good businessman,” Bunker said. “He’s been in business a long time, so I think he knows what he’s talking about.”

Associated Press writers Bill Barrow in Dalton, Georgia, Jesse Bedayn in San Marcos, Texas, and Nicholas Ingram in Park City, Kansas, contributed to this report.

Vice President JD Vance and President Donald Trump listen as Andrew Ferguson, chairman of the Federal Trade Commission, speaks in the Oval Office of the White House, Tuesday, Oct. 20, 2026, in Washington. (AP Photo/Jacquelyn Martin)

Vice President JD Vance and President Donald Trump listen as Andrew Ferguson, chairman of the Federal Trade Commission, speaks in the Oval Office of the White House, Tuesday, Oct. 20, 2026, in Washington. (AP Photo/Jacquelyn Martin)

President Donald Trump speaks in the Oval Office of the White House, Tuesday, Oct. 20, 2026, in Washington, as Vice President JD Vance listens. (AP Photo/Jacquelyn Martin)

President Donald Trump speaks in the Oval Office of the White House, Tuesday, Oct. 20, 2026, in Washington, as Vice President JD Vance listens. (AP Photo/Jacquelyn Martin)

OSAKA, Japan--(BUSINESS WIRE)--Oct 21, 2026--

Kanadevia Corporation (TOKYO:7004) has been developing High-CO₂-Concentration Waste Incineration Technology since FY2024. The project aims to separate and capture carbon dioxide (CO₂) from flue gas generated during waste incineration. Kanadevia will begin the world's first demonstration of this technology in the Waste to Energy sector at the Shinagawa Incineration Plant in Shinagawa City, Tokyo, in November 2026.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261021372259/en/

The demonstration project aims to commercialize an innovative technology for the efficient capture of CO₂ from waste-incineration flue gas. The demonstration facility, which serves as a pilot-scale plant, comprises an incinerator capable of processing 2 tons of waste per day and a CO₂ separation and capture system. By replacing combustion air with oxygen and recirculated flue gas, the technology increases the CO₂ concentration in the flue gas to several times that of conventional waste incineration systems. The project is scheduled to continue through FY2030. The demonstration facility has been installed on the premises of the Shinagawa Incineration Plant.

Currently, CO₂ is not separated and recovered from flue gas at Waste to Energy (WtE) plants. With conventional waste combustion technology, the CO₂ concentration in flue gas is generally limited to approximately 8% to 15%. By raising this concentration to 30% to 60%, the new technology is expected to improve the efficiency of CO₂ separation and capture, regardless of the capture method used. The captured CO₂ can then be liquefied or used as feedstock for methanation, adding a carbon circularity function to WtE plants and enabling them to operate as carbon-neutral carbon circularity plants. Compared with conventional waste combustion technology, the new technology can reduce the volume of flue gas sent to CO₂ separation and capture systems to only a fraction of the conventional level. It is therefore also expected to reduce the space required for CO₂ capture equipment compared with simply adding a CO₂ separation and capture system to a conventional WtE plant.

Laboratory-scale testing has already demonstrated a CO₂ recovery rate of more than 90% and CO₂ purity of more than 95%. The project ultimately aims to achieve a stable capture rate of more than 90% from CO₂-enriched flue gas.

Once commercialized, the technology is expected to add a carbon circularity function to WtE plants. In addition to generating electricity using heat from waste incineration, these facilities would be able to capture CO₂ and use it as a resource or feedstock for fuel.

Overview of the Demonstration Project
L
ocation: Shinagawa Incineration Plant, Clean Authority of TOKYO (Shinagawa City, Tokyo)
Facility Capacity: Incinerator: 2 tons/day
Demonstration Period: November 2026 to March 2028

(Top) Demonstration facility (Bottom left) Incinerator (Bottom right) CO2 separation and capture system

(Top) Demonstration facility (Bottom left) Incinerator (Bottom right) CO2 separation and capture system

Conceptual Diagram of the Technology

Conceptual Diagram of the Technology

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