On June 28th’s CNBC Squawk Box, financial correspondent Rick Santelli finally had enough of CNBC’s goofball resident economist, Steve Liesman’s vigorous ranting of the need for and defense of the Obama administration’s continued deficit spending to bail out the economy.
Santelli, the person who began the Tea Party revolution during a similar televised outburst, in agitated animation described correcting the misguided efforts of the government in the simplest, unequivocal terms he could to Liesman, “I want the government to stop spending! STOP THE SPENDING, STOP THE SPENDING, STOP THE SPENDING, STOP THE SPENDING! That’s what we want, STOP THE SPENDING!”
Liesman continued to argue for deficit spending coupled with tax increases, "I just keep saying what the data show," Liesman said. "The data show tax cuts don't pay for themselves."
"You wouldn't know data if it bit you on the nose," responded Santelli, "Go read some Austrian economists instead of the funny pages.", or,
"Go back to Russia where you understand the state and the citizen.".
In an informal tally over the years, Santelli’s assessment of market, political and economic factors have consistently been correct while Liesman has been consistently wrong, yet CNBC continues to promote Liesman’s and not Santelli’s star.
Before the tide of idiots comes in further, swim for all you're worth Santelli on over to FOX. In that venue America will be better for you telling it like it is without a CNBC yoke.
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