Santelli goes nuclear: “Stop spending! Stop spending! Stop spending!”

posted at 4:59 pm on June 28, 2010 by Allahpundit

Via AmSpec, an entertaining palate-cleanser after this morning’s latest apocalyptic Keynesianism from Paul Krugman. As both a tea-party battle cry and a succinct summation of hard economic reality in D.C., this one just might go viral.

Oh, by the way: Did you know that “the economy has recovered”? Just in time for the midterms, too. Fancy that.

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“Stop Spending” It has a nice ring to it

E9RET on June 28, 2010 at 5:01 PM

For those who don’t know, Santelli was the guy who stood on the Chicago trading floor and called for a modern-day tea party in response to Obama’s policies.

amerpundit on June 28, 2010 at 5:02 PM

Santelli for President!

Holger on June 28, 2010 at 5:03 PM

Biden says, Jacka$$ery.

lorien1973 on June 28, 2010 at 5:03 PM

The Rant II: The Wrath of Rick

It seems like we need these once every 18 months. Rick is one of the lone voices of sanity(which is ironic since he sounds unhinged) in the drive-by media.

Doughboy on June 28, 2010 at 5:04 PM

2 words.

They make Complete sense.

STOP SPENDING.

portlandon on June 28, 2010 at 5:05 PM

Now that’s what I’m talkin about!

RalphyBoy on June 28, 2010 at 5:08 PM

The Mission Accomplished is supposed to override the Stop Spending? Keep trying to blame Bush and when November comes see who has the last laugh.

fourdeucer on June 28, 2010 at 5:08 PM

“Smartass”

the_nile on June 28, 2010 at 5:08 PM

Rick Santelli’s original rant

Holger on June 28, 2010 at 5:08 PM

‘stop reading austrian econmists!”

love it

DrW on June 28, 2010 at 5:08 PM

Stop Spending. Rick always sums things up nicely.

(Is that Curly Howard on the right? Nyuk, nyuk, nyuk.)

LASue on June 28, 2010 at 5:08 PM

That was some high-quality flamespray.

fiatboomer on June 28, 2010 at 5:09 PM

Santelli is awesome!

But seriously, how does he have a job at NBC?

Lance Murdock on June 28, 2010 at 5:10 PM

Biden says, Jacka$$ery.

lorien1973 on June 28, 2010 at 5:03 PM

I literally snorted reading this.

angryed on June 28, 2010 at 5:10 PM

Go back to Russia!

Holger on June 28, 2010 at 5:11 PM

Stop Spending!

Good Idea!!!!

Zero percent capital gains tax

Great Idea!!!!

dirtseller on June 28, 2010 at 5:11 PM

Haven’t we said this since the first Porkulous passed? Has anyone listened?

BetseyRoss on June 28, 2010 at 5:11 PM

The last time Santelli went off like this…the Tea Party movement was born.

Perhaps his “Nov 2nd, it’s over” rant will be the next movement to come to fruition!

katy on June 28, 2010 at 5:13 PM

Well, I didn’t learn anything but that was fun.

Cable TV at its finest.

SteveMG on June 28, 2010 at 5:14 PM

If we stop spending, the terrorists have won.

angryed on June 28, 2010 at 5:14 PM

Beautiful!

The guy doing his nails while Santellis launching broadsides is classic. Its straight of a Warner Bro’s Bugs Bunny cartoon. I love it!

Archimedes on June 28, 2010 at 5:14 PM

Sorry Obama no can do. It’s in his blood doncha know. Seriously, he told us clearly at the G-20 meeting, that he is going to make some hard decisions….Translation: He’s gonna tax everything and everyone.

sandee on June 28, 2010 at 5:15 PM

I claim charger membership in the ‘Stop Spending Party’.

toenail on June 28, 2010 at 5:15 PM

Way to go Rick. Everyday in a few hundred thousand households, ordinary people are screaming the same thing………STOP SPENDING YOU FRIGGIN AHOLES

David in ATL on June 28, 2010 at 5:16 PM

If the “economy has recovered” how come none other than Krugman says we’re in a third depression?

Schadenfreude on June 28, 2010 at 5:17 PM

I love when Santelli tells him:

“You’ve been married too long!”

MJBrutus on June 28, 2010 at 5:18 PM

Jim “The Economy Has Recovered” Moran
used to be my Congressman.

Thank God I no longer live there.

Went to his “town hall” meeting last year…what a joke!
The man acted like

1) a drunk
2) a coward
3) a liar
4) a fraud…but not a very good one

Lockstein13 on June 28, 2010 at 5:18 PM

Lockstein13 on June 28, 2010 at 5:18 PM

You could have been more concise and just said he was a Democrat.

MJBrutus on June 28, 2010 at 5:19 PM

Competing with Santelli rant is Steve Wynn.

Schadenfreude on June 28, 2010 at 5:20 PM

Rick Santelli’s original rant

Holger on June 28, 2010 at 5:08 PM

Loved the line about those drinking the water don’t have to carry the water.

fourdeucer on June 28, 2010 at 5:20 PM

I love it when liberals are delusional.

They must believe the U.S. American peole are beyond stupid. How condescending and arrogant of them, the plantation masters. How foolish of their sheeple to follow them.

Schadenfreude on June 28, 2010 at 5:22 PM

Italian stallion vs the slug.

the_nile on June 28, 2010 at 5:22 PM

Rick Santelli needs his own show, heck, he should run for president! The guy is awesome!

cubachi on June 28, 2010 at 5:22 PM

Teddy Roosevelt gave us the Teddy Bear. Obama gives us the Debty Bear: http://optoons.blogspot.com/2010/06/obama-debty-bear-craze-sweeps-nation.html

Mervis Winter on June 28, 2010 at 5:22 PM

November 2.

SlaveDog on June 28, 2010 at 5:22 PM

Don’t know if Rick Santelli made it into the 100 most hated of the Townhall compilation, but he sure got the country on on ‘fire’. Good on you, Mr. Santelli.

Schadenfreude on June 28, 2010 at 5:23 PM

What’s funny is that Dems complain that FOX News is like this: Over scream and getting nowhere on the argument. Rick, that “married” quote was awesome.

ProudPalinFan on June 28, 2010 at 5:23 PM

They must believe the U.S. American peole are beyond stupid. How condescending and arrogant of them, the plantation masters. How foolish of their sheeple to follow them.

Schadenfreude on June 28, 2010 at 5:22 PM

52%…

the_nile on June 28, 2010 at 5:24 PM

Competing with Santelli rant is Steve Wynn.

Schadenfreude on June 28, 2010 at 5:20 PM

I love this guy every time I hear him.

lorien1973 on June 28, 2010 at 5:24 PM

November 2.

SlaveDog on June 28, 2010 at 5:22 PM

Still 4 months away. Don’t take anything for granted. The enemy is a very subversive one, and way more impertinent and power hungry than this side. DO NOT rest, not for a second.

Schadenfreude on June 28, 2010 at 5:25 PM

It’s Duck season
It’s Rabbit season
Duck season
Rabbit season
Duck season
Rabbit season
Rabbit season
Duck season
FIRE!

ChicagoBlues on June 28, 2010 at 5:27 PM

Steve Wynn with the *nail filing* at the end was great. Whole thing was hilarious.

John Engler was an awesome governor. Miss him, wish he would run for senate against Stabenow or Levin.

lizzie beth on June 28, 2010 at 5:30 PM

As both a tea-party battle cry and a succinct summation of hard economic reality in D.C., this one just might go viral.

And what does the suit without an emperor do?

He threatens the country, impertinent narcissist!

Schadenfreude on June 28, 2010 at 5:30 PM

If the “economy has recovered” how come none other than Krugman says we’re in a third depression?

Schadenfreude on June 28, 2010 at 5:17 PM

He believes that a third Great Depression (first; 1873-82, second; 1929-40) justifies even more deficit spending, on the principle of “The stimulus wasn’t enough, we need to pump up the economy even more. Then we put the printing presses at the fed into hyperdrive, and pay off the debt with inflated dollars. Inflation is our friend, and hyper-inflation, like The One, is our Savior.”

Two words; Weimar Germany.

I’d dearly love to see something wipe that grin off Krugman’s face. Barring that, I’ll settle for him depilating his entire body including his beard and head hair, getting a Nehru suit and a bald cat, and making all future pronouncements with a pinky at the corner of his mouth.

Next he’ll want sharks with frickin’ laser beams, of course.

/sarc? With him, you can never be too sure.

clear ether

eon

eon on June 28, 2010 at 5:33 PM

The Year is 2010…….

the Liberals are still on KOOL_AID

the American Tax Payer is their Drug……

Spending into Oblivion is their Religion….

Bailout Loans is their creed…….

Spending Hand Over Fist,and Spending Their Way Out,
is their Obsession,

And that Obsession,is Worshipped At The Alter of Liberalsim

canopfor on June 28, 2010 at 5:33 PM

Nice, he’s onto Austrian economics.

ebrawer on June 28, 2010 at 5:33 PM

We have to figure a way to make spending and regulation racist.

I’m working on it.

IlikedAUH2O on June 28, 2010 at 5:34 PM

Sorry forgot the link. Picture Rick as Bugs…
http://www.youtube.com/watch?v=u14T5wzicqw

ChicagoBlues on June 28, 2010 at 5:35 PM

Wow, that Steve Wynn interview got sort of Prophetic at the end.

Holger on June 28, 2010 at 5:35 PM

How could you not quote the best parts?!

Santelli: “Go read some Austrian economists instead of the funny pages! [...] Go back to Russia where you understand the state and the citizen!”

Rae on June 28, 2010 at 5:35 PM

I’d dearly love to see something wipe that grin off Krugman’s face…

eon on June 28, 2010 at 5:33 PM

Now, laughing stock in at least two continents.

Schadenfreude on June 28, 2010 at 5:35 PM

Santelli tells him to go read some Austrian economists instead of the funny pages. GOOD ONE But then the guy says he can talk about Fred Hayek and Santelli says ‘Yeah but you’re thinking Salma Hayek” Ha Ha.

Jeff on June 28, 2010 at 5:37 PM

The PARTY OF NO,says NO TO MORE SPENDING!!!

The Party of Reality is IMPLORING the Party of Fantasy
to stop…stop…stop…stop..

the F’ `/”$%?&*()_((*&?%$//”
“/$%?*()_+)()*&?%$//$%?&*()_+)(*&?%$/”%?&*()_(*&?%$”/$%?&*
_)(*&?%$/”$%?&*()$/%?&*()_(*&?%$/$/%?&*()_(*&?%$/$%?&*(

k’n Spending!!!!!!!!!!!!!!!!!!

canopfor on June 28, 2010 at 5:38 PM

While Canada, Russia and several European countries are sensibly turning to budget cuts, tax cuts and fiscal austerity, we’re stuck with the Marxist buffoon.

Great, just great.

Thank god I kept my dual citizenship.

Norwegian on June 28, 2010 at 5:38 PM

I’d dearly love to see something wipe that grin off Krugman’s face…

eon on June 28, 2010 at 5:33 PM

Now, laughing stock in at least two continents.

Schadenfreude on June 28, 2010 at 5:35 PM

(Read that one this morning, in fact.)

You know that, I know that, and everybody with an above-room-temperature IQ knows it, too. I just don’t expect The Krug to notice. Let alone his buddy Bobby “Spend, Spend, Spend!” Reich. Or The One.

cheers

eon

eon on June 28, 2010 at 5:40 PM

OT: Breaking: According to FoxNews, McChrystal is restiring from Army Now he can tell the truth about obama!

ConservativePartyNow on June 28, 2010 at 5:42 PM

Tea Party leg tingles!

platypus on June 28, 2010 at 5:43 PM

Great, just great.

Thank god I kept my dual citizenship.

Norwegian on June 28, 2010 at 5:38 PM

Easy, the U.S.A. doesn’t perish like this. The ‘best’ for her will turn out to be this inexperienced twit pretender.

She was fooled, but this can happen to her only once. The arrogant kids exposed their Utopian dreams, all at once and she went “wtf have we got here?”. Sorry for the language but she was shocked, before she went “eyes wide open”.

Santelli sprung the tea party into action.

Schadenfreude on June 28, 2010 at 5:43 PM

Yay! Do we get one of these every summer?!?!?!?! Thanks Mr. Santelli!

Joe Caps on June 28, 2010 at 5:44 PM

While Canada, Russia and several European countries are sensibly turning to budget cuts, tax cuts and fiscal austerity, we’re stuck with the Marxist buffoon.

Great, just great.

Thank god I kept my dual citizenship.

Norwegian on June 28, 2010 at 5:38 PM

They dont have the luxury of being the reserve currency dollar. It does allow US digging itself deeper into the hole before it falls apart.

the_nile on June 28, 2010 at 5:45 PM

Love it, thanks Allah.

BobH on June 28, 2010 at 5:45 PM

He acted stupidly.

PakviRoti on June 28, 2010 at 5:47 PM

He needs to balance his statement with Austrian AND Chicago School economist, the hard-core nutter austrians on the Rothbard rather than Hayek, are perverting and discrediting the term.

jp on June 28, 2010 at 5:48 PM

Here is where the Spending Baby was Born!!

Right At The Very Beginning!!

And,when Pelosi secured the Republican Vote,before
they both Voted,she went to the floor,and went on a
Rant about * Years of Failed Bush Policies!!!!
==========================================================

$700 Billion Dollars
Sept/29/2008

Speaker Nancy Pelosi (D-CA) Floor Speech Before Bailout Vote

http://www.youtube.com/watch?gl=CA&hl=en&v=VMLo7i38D58

====================

====================

Nancy Pelosi’s bailout attack speech on the House floor; Update: Pence statement added
——————————-

Update: Staunch conservative bailout opponent GOP. Rep. Mike Pence weighs in…::

U.S. Congressman Mike Pence issued the following statement regarding the failure of the bailout bill today::
—————————————————–

“Today Congress took a stand for the American taxpayer and free markets. The American people rejected this corporate bailout and today the People’s House did likewise.

“It is now imperative that Congress come together and develop a response to the crisis facing our financial markets that reflects the American people’s belief in personal responsibility and fiscal discipline.

“There are alternatives to the massive federal bailout that Congress rejected. I look forward to working with my colleagues in both parties to develop a response to this crisis that puts taxpayers first and preserves the essential freedom of the American marketplace.”

http://michellemalkin.com/2008/09/29/nancy-pelosis-bailout-attack-speech-on-the-house-floor/

canopfor on June 28, 2010 at 5:49 PM

Santelli goes nuclear: “Stop spending! Stop spending! Stop spending!”

what a novel idea

cmsinaz on June 28, 2010 at 5:49 PM

Rick Santelli is a genius and he is RIGHT!!!!!!

Stop the spending!
Stop the spending!
Stop the spending!

Spending is bankrupting our children and grandchildren, and the people have had enough tyranny!!!

Mark7788 on June 28, 2010 at 5:50 PM

Beautiful!

The guy doing his nails while Santellis launching broadsides is classic. Its straight of a Warner Bro’s Bugs Bunny cartoon. I love it!

Archimedes on June 28, 2010 at 5:14 PM

That’s Joe Kernen. Love him!

http://www.youtube.com/watch?v=Y7eJXCEzf14

LurkerDood on June 28, 2010 at 5:51 PM

I had a chance to explain Rick Santelli’s role in development of the Tea Parties to an Italian journalist. Details are here:

An AMERICAN in FLORENCE…for an ITALIAN TEA PARTY!

Mutnodjmet on June 28, 2010 at 5:52 PM

Competing with Santelli rant is Steve Wynn.

Schadenfreude on June 28, 2010 at 5:20 PM

Santelli/Wynn 2012!

(Thought I’d just go ahead & get that out of the way since the guy who usually makes those x+y 2012! posts doesn’t seem to be here yet today)

leilani on June 28, 2010 at 5:53 PM

Saw this at another site. Author unk.

10 years ago we had Bill Clinton, Stevie Wonder, Bob Hope, and Johnny Cash.
Today we have Barack Obama, no wonder, no hope, and no cash.

CWforFreedom on June 28, 2010 at 6:05 PM

“the economy has recovered!”

Hahahahahahaha!!!!!

Yeah, sell that idea to the 8+ million UNEMPLOYED.

GarandFan on June 28, 2010 at 6:07 PM

Saw this at another site. Author unk.

10 years ago we had Bill Clinton, Stevie Wonder, Bob Hope, and Johnny Cash.
Today we have Barack Obama, no wonder, no hope, and no cash.
CWforFreedom on June 28, 2010 at 6:05 PM

CWforFreedom: Dats good!!:)

canopfor on June 28, 2010 at 6:15 PM

ConservativePartyNow on June 28, 2010 at 5:42 PM

That was a foregone conclusion once he was fired from his 4-star position. His career was finished at that point. Whether he talks or not is still very much up in the air.

chemman on June 28, 2010 at 6:17 PM

You know that, I know that, and everybody with an above-room-temperature IQ knows it, too. I just don’t expect The Krug to notice. Let alone his buddy Bobby “Spend, Spend, Spend!” Reich. Or The One.

cheers

eon

eon on June 28, 2010 at 5:40 PM

The irony of Krugman is that no matter how much we spend and how much worse we get off; he will continue to argue that if had only spent xx $$$ more…..

Of course, Kensyian economics has been a total fraud all along, and now it’s almost too late to prevent inevitable outcome: Debt Deflation (now) -> Hyper Inflation (later) -> Total ecomonic ruin (the end)

Norwegian on June 28, 2010 at 6:25 PM

Santelli: STOP SPENDING!!!!!!!

Obama: “I’m going to call your bluff” (i.e., “I’m going to cut Defense Spending and I dare you to oppose me”)

Firefly_76 on June 28, 2010 at 6:30 PM

Santelli’s right of course, but he’s wasting his breath. They’ll never stop spending. They’ll go to their graves insisting the “stimulus” would have worked if only it had been bigger. You can’t fix stupid.

AZCoyote on June 28, 2010 at 6:34 PM

The now powerful tea party movement began with an on-air rant in February 2009 by Rick Santelli of CNBC, who complained of a costly new program to protect homeowners who had recklessly committed themselves to unaffordable mortgages; he suggested a “Chicago Tea Party” as a means of protest.

Despite the indignation Santelli ignited, various Obama programs continue to tax Americans who’ve never missed a mortgage payment and send the money to rescue or subsidize their neighbors who made risky, irresponsible decisions at the height of the housing bubble.

Schadenfreude on June 28, 2010 at 6:36 PM

And scale back the out-of-control government salaries and perks!

(Santelli forget the second part of the equation.)

profitsbeard on June 28, 2010 at 6:45 PM

OT: Breaking: According to FoxNews, McChrystal is restiring from Army Now he can tell the truth about obama!

ConservativePartyNow on June 28, 2010 at 5:42 PM

Not if he wants his pension he won’t. If you are still drawing a paycheck from the .mil you can get an 88. Most of the time this is largely ignored, but would it be in this one?

Nathan_OH on June 28, 2010 at 7:02 PM

the Liberals are still on KOOL_AID
the American Tax Payer is their Drug……
Spending into Oblivion is their Religion….

The problem is that today’s massive deficit was primarily created under Bush and the Republicans. Yes, the deficit has gone through the roof under Obama, but this occurred in the wake of near financial collapse and stimulus spending intended to prevent a far deeper recession. If you remember, under Clinton the budget was actually balanced- with higher taxes in place.
So to blame our problems on one political party is foolish and will probably lead to the same types of mistakes that lead us to our current state of financial mire.

There’s little question among most economists that cuts in spending will trigger another recession unless additional public spending leads to jobs growth. It’s also the case that our federal deficit is at levels that cannot be sustained for long. The deficit problem must be tackled.

But the bottom line is that their aren’t any simple answers. I’d rather see the government continue traditional deficit spending- the type of spending that has worked in every past recession during the last 50 years- than to go cold turkey. Believe it or not, government spending has a multiplier effect on the overall economy. When Japan cut its federal spending under similar financial circumstances over the past 10 years, it lead to a significant rise in the deficit. So if you think that cuts in government spending will lead to lower deficits, that’s often not the case in a recessionary environment.

bayam on June 28, 2010 at 7:33 PM

Saw this at another site. Author unk.

10 years ago we had Bill Clinton, Stevie Wonder, Bob Hope, and Johnny Cash.
Today we have Barack Obama, no wonder, no hope, and no cash.

CWforFreedom on June 28, 2010 at 6:05 PM

Thanks, CW. I needed a good laugh today.

GrannyDee on June 28, 2010 at 8:55 PM

Christie/Santelli 2012

Scranton on June 28, 2010 at 8:59 PM

“Read some Austrian economists instead of the funny pages.”

Oh, Rick. You’re awesome.

Animator Girl on June 28, 2010 at 10:45 PM

’stop reading austrian econmists!”

love it

DrW on June 28, 2010 at 5:08 PM

No, he said Start reading Austrian economists, referring to Hayek specifically.

keep the change on June 28, 2010 at 11:16 PM

Too late, Mr. Herbert.

Schadenfreude on June 29, 2010 at 1:22 AM

bayam on June 28, 2010 at 7:33 PM

first, the operating budget of the united states hasn’t been balanced since Johnsons surtax.

second, the fallacy of the multiplier is that the consumption spurred is not absorbed by the ability to import.

third, the growth of the gdp is driven by excess consumption, which is usually paid for by debt…as is the government spending.

fourth, government spending is not exogenous to the system and therefore places a burden on GDP through debt and equity markets.

lastly, the way the private sector describes the ‘multiplier effect’ is with the words ‘profit margin’.

Fighton03 on June 29, 2010 at 1:45 AM

Austrian Economics > Austrian Governators

V-rod on June 29, 2010 at 3:54 AM

The problem is that today’s massive deficit was primarily created under Bush and the Republicans. Yes, the deficit has gone through the roof under Obama, but this occurred in the wake of near financial collapse and stimulus spending intended to prevent a far deeper recession. If you remember, under Clinton the budget was actually balanced- with higher taxes in place.

– Bayam

Two things: You’re taking it as a foregone conclusion that the only appropriate response to a recession is to massively increase government spending. Second, was the Clinton budget balanced BECAUSE of more government spending? Umm … what was that whole “era of Big Government is over” and “re-engineering government” thing about? I guess I’m just confused.

furytrader on June 29, 2010 at 8:14 AM

The problem is that today’s massive deficit was primarily created under Bush and the Republicans

Granted. Bush did irreparable harm to the GOP’s standing as a fiscally conservative party. And he had lots of help. Don’t say I never agreed with you on anything.

There’s little question among most economists that cuts in spending will trigger another recession unless additional public spending leads to jobs growth.

I’m not going to let you get away with that one, since I’m a professional economist and I strongly disagree with that statement. There’s a lot you’re not dealing with even rhetorically — Ricardian equivalence, permanent income hypothesis (Friedman killed the naive Keynesian multiplier in 1957 with “A Theory of the Consumption Function”), social choice theory (how do we know that politically directed investment increases, rather than destroys, value?).

I monitor federal grant programs as part of my job. There are billions of ARRA dollars not even committed to activities by grantees yet. Spend that before you ask for more, fellas.

DrSteve on June 29, 2010 at 9:08 AM

Go read some Austrian economist instead of the funny pages.

Classic!

Sultry Beauty on June 29, 2010 at 1:22 PM

Biden wants Santelli to stop being such a smart-a$$ all the time…

Stopping the sepnding, recalling all unused TARP and stimulus funds, and eliminating the cap gains tax would be a real “big f—ing deal” for the economy.

JohnBG on June 29, 2010 at 2:15 PM