While President Trump used to shower the Fox News Channel with praise, more recently he has had icier relations with the network. Several hosts that used to speech positively about his administration have since been more critical–most notably, anchor Neil Cavuto.
Cavuto cut away from a speech being made my President Trump on deregulation yesterday to fact-check him about claims regarding the economy under Barack Obama.
Trump said that Obama put in place “job destroying regulations” following the 2008 recession.
Cavuto cut in, “I do want to clarify a couple of things he said, that no president in history has cut regulations as much as he has. That is true,” he then said that Trump “mischaracterized the regulations that were added under Barack Obama — they were largely financial related. You might recall we had this little thing called the financial meltdown, and much of those regulations were geared to preventing banks from ever investing in things like risky mortgage securities, pooling them, selling them off.”
Objective reporting for the educated American.
The anchor also pushed back on Trump’s claims that those regulations were devastating to the economy. He said, “The unemployment rate did, under Barack Obama, go down from a high of 10% to around 4.7%. President Trump, of course, sent that even lower, eventually getting us down to a 3.5% unemployment rate. But I didn’t want to leave you with the impression that during those eight years when Obama first came into office and we were bleeding about a million jobs a month that that was standard fare and that characterized the whole eight years.”
He continued, “It was not a disaster under Barack Obama. Not only did the Dow essentially triple during his tenure, but whether you want to call the increase regulations and other things that police financial companies, as a bane to our existence, those companies did very well. Americans did very, very well. So I just want to put that in some context here.”
Fox cut away from Trump’s speech so that Neil Cavuto could note some ‘mischaracterizations’ from Trump
Cavuto: ‘It was not a disaster under Barack Obama, not only did the Dow essentially triple, but … Americans did very, very well.’ pic.twitter.com/T47seNoLak
— Lis Power (@LisPower1) July 16, 2020