The media is now paying for "lies" they've made and are losing their audience because of their coverage of President Trump, according to conservative radio talk show host Rush Limbaugh.

"What has happened is the people are tired of being either lied to or set up for big things and let down. They just don’t trust ’em anymore," Limbaugh said on his radio show Tuesday.

The radio host was talking about an Axios piece titled "'Trump slump' hits big media" that claimed the president's "shock factor" is wearing thin with audiences and that "media companies are scrambling to find their next big moneymaker."

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The report also claimed Democrats "don't have a knock-out media star to drive interest in the election."

"The fact is, they’re admitting that the Democrats — the lone hope to bring back hope and salvation to America to get rid of Donald Trump — are boring to people," Limbaugh said.

There’s no reduced interest in Trump. The difference is, they’ve been lying about Trump for two years, they’ve been promising things to their viewers and readers that haven’t happened. — Rush Limbaugh

Limbaugh believes that interest in Trump is still strong, arguing the president is not "boring" but that the media outlets like CNN, MSNBC and the New York Times have lost credibility by making 'promises' to their audience they've been unable to deliver on.

"There’s no reduced interest in Trump. The difference is, they’ve been lying about Trump for two years, they’ve been promising things to their viewers and readers that haven’t happened," Limbaugh argued. "The Trump bump that supported the news industry was nothing but a series of wild hopes and dreams of being able to get rid of the guy. And they’ve all blown up. They’re not gonna be able to get rid of Trump. Trump’s gonna be on the ballot in 2020. They failed."

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Limbaugh went on to highlight the difference between his radio program and what mainstream media outlets have been doing over the past three years.

"What isn’t sustainable is fake news. What isn’t sustainable is out-and-out lying. I speak of things that are threatening the country. They speak of things that are threatening the country. The difference is they made it all up," Limbaugh said. "They invested over three years in fake news story after fake news story after fake news story, and it all added up to what?"