CNBC’s Rick Santelli went at it again. This time with Steve Liesman, CNBC’s financial correspondent on the White House lawn. Rick was in his usual pit at the Chicago exchange today when a heated argument over Obama’s economic policies erupted. Liesman, appropriately named, began a defense of stimulus spending and attacked the idea of cutting taxes to stimulate the economy. During the exchange, Santelli went another five-star rant shouting at Liesman that the government must stop spending.
“STOP SPENDING!”, Santelli repeated several times, waving his arms and showing the passion we know and love about him. The others on the SquawkBox panel were amused as the two battled. Steve Liesman is known for his reporting on the Russian economy. One of his books, “The Liesman Rules”, claims that government spending results in a ten to one improvement in an economy and that tax cuts do nothing.
But Santelli was having none of it. He told Liesman to “go read some Austrian economists instead of the funny pages”. Rick also told Liesman, “Go back to Russia where you understand the state and the citizen.” Santelli pointed out that the voters are telling their governments to stop spending. He mentioned Merkel and other European leaders that have gotten the message. When will Obama? Perhaps today, Obama will hear CNBC’s Rick Santelli, “STOP SPENDING! STOP SPENDING! STOP SPENDING!”