Neil Cavuto fact-checks Trump on Obama economy: ‘It was not a disaster’
On Thursday afternoon, as President Trump delivered another campaign-like speech from the White House, Fox News’s Neil Cavuto cut away to correct the president on statements he’d made about the economy under former president Barack Obama and regulations he’d implemented.
Video Transcript
NEIL CAVUTO: 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. I think he might have mischaracterized the regulations that were added under Barack Obama. They were largely financial related.
- Fox News's Neil Cavuto cut away from President Trump's campaign-style speech at the White House on Thursday to correct the president on regulations put in place by President Obama.
NEIL CAVUTO: 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. That tended to be really the scourge of that entire period.
- Trump has repeatedly slammed Obama's economy, but Cavuto explained why those attacks are unfounded.
NEIL CAVUTO: 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 increased regulations and other things-- police, financial companies-- as the bane of our existence. Those companies did very well. Americans did very, very well.
- Cavuto also spoke about how Obama brought the country back from 10% unemployment and why he felt the need to defend the former president.
NEIL CAVUTO: 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 a standard fare and that characterized the whole eight years. The recovery itself might have been weak, but we were coming off, you know, a meltdown.
