Fox News has long had a strange relationship with Trump. Now it’s going to get weirder.
Because a Fox News host just shocked fans with this warning about Donald Trump.
Donald Trump loves to make a big deal out of his appearances on Fox News, whether over the phone for a quick audible interview or in-person for a live townhall or one-on-one with a Fox News journalist. Certainly, this has been a smart move for Trump because Fox News has eclipsed the likes of CNN in terms of relevancy. Fox News dominates the current cable news landscape.
While all this is true, it’s also true that Fox News has, at times, put itself at odds with Donald Trump and his agenda. Make no mistake, Fox News loves the status quo too. Maybe not as much as CNN and MSNBC, but Fox News is also quick to defend the political establishment when it benefits them and their bottom-line.
Consider what a top Fox News host has recently had to say about Donald Trump’s plans to cut government spending, which includes cutting spending for the military complex. Though that is not always popular with conservatives, Donald Trump has said he wants all sectors of the government to be running with monetary efficiency. That includes the military, too.
Charles Payne Predicts Short-Term Stock Market Hit from Department of Government Efficiency
Fox Business host Charles Payne shared a forecast on Monday, predicting that the new Department of Government Efficiency (DOGE) would likely cause a short-term dip in the stock market. According to Payne, companies that have benefited from excessive Pentagon spending—such as those selling a “$500 hammer”—would feel the impact of the department’s cost-cutting measures.
The Department of Government Efficiency, formed by President-elect Donald Trump, was announced on November 12, with Tesla CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy appointed as co-chairs. The new committee’s goal is to target federal spending and policies, specifically within the military and healthcare sectors. Payne discussed the committee’s plans with former White House press secretary Kayleigh McEnany and “America’s Newsroom” hosts Bill Hemmer and Dana Perino, emphasizing the absence of “sacred cows” in its approach to reform.
Payne explained his perspective on Trump’s second term: “Here is the way I look at the next Trump 2.0. I look at Trump 2.0 as not necessarily, we’re gonna get everything in the next four years, but we’re gonna put things into place to create prosperity for America that I think could last at least three decades and the key part of this is, look where they’re going – there are no sacred cows.” He pointed to the broad scope of reform targets, highlighting the committee’s focus on reducing wasteful spending.
He further explained, “Look at what they are going after.” Payne noted recent legislative actions, such as efforts to address pharmacy benefit managers, which had significant effects on stock prices—specifically, the stock price of CVS. “CVS stock is cratering,” he remarked. Payne also compared the current state of government spending to President Dwight D. Eisenhower’s warning about the dangers of the military-industrial complex.
“Well, now we’ve got a health insurance industrial complex, we got a healthcare industrial complex, we got a military industrial complex now,” he said, referring to the vast sums of money involved. However, Payne cautioned that these changes might initially hurt the stock market. “It’s not necessarily good news for the stock market initially. You know, because, some of these companies that get all of this money and charge us $500 for a hammer and $1,000 for a toilet seat, they may take a hit, but ultimately, it’s better for the country and that means it’s ultimately better for the stock market.”
In support of the reforms, Republican Sen. Joni Ernst of Iowa sent a seven-page letter to Musk and Ramaswamy in November. The letter proposed several initiatives, including addressing unused federal property and halting uncommitted spending for COVID relief, which could lead to cuts exceeding $2 trillion.
Ernst’s efforts align with broader concerns about excessive military spending. Earlier this year, Rep. Michael Waltz of Florida confronted Air Force Secretary Frank Kendall regarding the Pentagon’s exorbitant expenditures, including a $90,000 bill for a bag of bushings and $14,000 for a 3D-printed toilet seat. A report from Sen. Charles Grassley also revealed that the Pentagon spent $1,280 on cups.
Further highlighting government inefficiency, Ernst released a 60-page report on December 5, detailing her findings from an investigation into federal telework policies. The report followed her August 2023 letter to 24 government agencies, urging them to review the effectiveness and costs associated with telecommuting.
As part of his broader reform agenda, Trump is also reportedly planning to privatize the United States Postal Service, which recorded a loss of $9.5 billion in fiscal year 2024, according to the Washington Post.
Charles Payne is clearly trying to do everything but assent to the plans of Donald Trump’s incoming administration. Fox News is still cautious of giving positive coverage to ideas like cutting military spending, which was a big no-no for neoconservatives for years during the Bush administration.
.@VivekGRamaswamy: The work of the Department of Government Efficiency "is going to be the most transparent process so the American people can see how their money is being wasted, and so we're all in it on the same team to fix it."🇺🇸 pic.twitter.com/aj1cVAYxd1
— Go Vivek Go (@GoViRaLFG) November 14, 2024
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