At V.P. debate, Vance and Walz spar over 'common sense' economic plans, how to fix housing

By Victor Reklaitis

GOP vice-presidential nominee J.D. Vance dismisses economists blasting Trump's plans; Walz charges Trump brought economic collapse

Republican vice presidential nominee J.D. Vance on Tuesday attacked economists who don't like the Trump-Vance ticket's proposals as out of touch, during a debate against Democratic rival Tim Walz.

"Donald Trump's economic plan is not just a plan, but it's also a record," Vance said, when asked about the Penn Wharton Budget Model's estimate that the GOP nominee's proposals would add $5.8 trillion to U.S. deficits over a decade.

Economists who attack Trump's plans "have Ph.D.s, but they don't have common sense, and they don't have wisdom," added Vance, a U.S. senator from Ohio who was tapped as Trump's running mate in mid-July. Trump's economic policies while he was in office delivered the "highest take-home pay in a generation" in the U.S. and 1.5% inflation, so "when people say that Donald Trump's economic plan doesn't make sense, I say, look at the record," Vance said.

Walz, on the other hand, criticized Trump's handling of the U.S. economy.

The former president's "failure" on handling the COVID-19 pandemic "led to the collapse for our economy," said the Minnesota governor, who was selected as Democratic presidential nominee Kamala Harris's running mate in early August.

Walz also defended his side's housing proposals during the debate in New York City, including one plan to give $25,000 in aid to first-time home buyers and another to boost supply. He said the U.S. doesn't have enough affordable housing, and the federal government can "help kick-start, create that base."

Vance said Americans "find the American dream of homeownership completely unaffordable," so his side's plan is to "open up American energy."

"You will get immediate pricing relief for American citizens, not by the way, just in housing, but a whole host of other economic goods, too," he said.

The debate between the running mates has come in the middle of a tight White House race, leading some pundits to forecast that the clash might make a difference with voters. Historically the No. 2 on any ticket hasn't moved the needle much.

Harris has been seen as slightly more likely to win the 2024 election by betting markets over the past three weeks, according to a RealClearPolitics average. But RCP's polling averages for the key battleground states have been showing a very close race.

-Victor Reklaitis

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10-01-24 2308ET

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