Vance says it'll take time to see economy improve: "We're turning the ship around"

As Americans express frustration with the country's economic outlook, Vice President JD Vance told CBS News this week it could take some time to see improvement.

"I'll be the first person to tell you that just as this country wasn't broken in one presidential term, it's gonna take more than 18 months to fix things and turn them around," Vance said during a town hall in Michigan that aired Saturday evening.

Vance was responding to a question from a woman who said her small business is struggling. Polls show that most Americans are dissatisfied with the state of the economy and frustrated with inflation, and the majority of voters blame the Trump administration's policies.

President Trump is more positive, giving his administration an "A+" on the economy.

Asked about Mr. Trump's characterization of the economy by "CBS Evening News" anchor Tony Dokoupil, Vance said: "I think that what the president is saying is that we are seeing all of these massive new investments come into our country. But he would be the first person to tell you that you gotta build the factories first, before you can employ the workers working in those factories."

"I think what we're doing is, we're turning the ship around," the vice president continued.

Watch the full episode of "Things That Matter: A Town Hall With Vice President JD Vance" streaming on Paramount+. It will also be available on YouTube, CBS News 24/7 and CBSNews.com.