Moments after the Federal Reserve announced it will cut its interest rate by .25 points —the first drop in the interest rates since the Great Recession—Cavuto groused on-air to a panel of several Fox Business hosts that both political parties had abandoned “any hint of fiscal restraint.”
Furthermore, Cavuto bashed the Trump administration for having “not done a good job containing” federal spending rates.
“Well, somebody has done a good job and that is President Trump,” Dobbs, a rabidly pro-Trump primetime host, shot back. “And it is this economy.”
Cavuto then directly confronted Dobbs, asking him if he truly believes Trump has done a good job “reining in spending,” prompting Dobbs to dismissively tell his colleague that he has to “work this thing out with the president.”
“Fact, fact, do you think this president has done anything to contain the deficits and the debt that had spiraled, still, from what levels he had from Barack Obama?” Cavuto fired back.
“Uh-huh. I do, indeed,” Dobbs said in response, prompting Cavuto to demand specifics.
Dobbs attempted to point to deregulation and low unemployment (with an assist from fellow pro-Trump colleague Maria Bartiromo), leading Cavuto to further press for answers on spending rates.
Dobbs ended up lashing out at Cavuto instead.
“Forgive me, I didn’t interrupt you, Neil, you’ve done it to me twice,” the Lou Dobbs Tonight host huffed. “Thirdly you’re looking at an unemployment rate that is closing a gap in the unemployment rate between minorities and whites in this country which is the exact direction—”
Cavuto, however, still wanted to know what exactly such Trumpian talking points had to do with the debt, adding: “I asked you a question about the debt! Do you worry about that or not? If you don’t, that’s fine!”
Later on in the segment, following the Dobbs-Cavuto clash, Bartiromo insisted that Trump would absolutely “take a knife to spending” if he gets a second term in office. “Mark my words.”