'What do you tell them?' Vance gets unlikely grilling on Fox News over 'shrinking economy'
JD Vance speaks during a rally in Scottsdale, Arizona, U.S. November 2, 2024. REUTERS/Go Nakamura
May 01, 2025
Vice President JD Vance found himself on the defensive Thursday as Fox News’ Bret Baier pressed him on the administration’s handling of the economy in the face of fresh data painting a grim portrait of the country’s economic condition.
“The economy shrank – first time in three years,” Baier told Vance in a Fox News interview. "People are pointing to the tariff policy. There are people looking at their 401(k)s that are worried. What do you tell them? Is this going to work?”
What followed was an evasive response from Vance, who quickly pointed to the prior administration.
“This is Joe Biden’s economy,” Vance said Thursday. “And we inherited $2 trillion of debt, the highest peacetime deficits in American history, a $1.2 trillion trade deficit – which fundamentally means we’re not making enough of our own stuff.”
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The vice president added in his explanation to the MAGA-friendly network that President Donald Trump’s economic strategy was a necessary “reset” to a more sustainable path.
“It would have been very easy for Donald Trump to do what administrations past have done, which is borrow a lot of money and continue fueling the national debt,” Vance said. “He said, ‘No,’ we need a reset. We need American workers to have better jobs, we need to protect the jobs they have now, and be more self-reliant.”
Vance’s comments came as consumer confidence in the country plummeted to Covid-era lows and amid reports that some in Trump’s own administration have admitted to hoarding supplies while bracing for a trade war fallout.
Watch the clip below or at this link.
Baier: The economy shrank. First time in three years. People are pointing to the tariff policy.
Vance: This is Joe Biden’s economy. pic.twitter.com/z3RE8gImrL
— Acyn (@Acyn) May 1, 2025