Rick Santelli goes off on unemployment numbers

People often refer to Glenn as the "father of the Tea Party," but if you ask Glenn, he'll be quick to tell you he's really more of a "distant uncle."

"I'm not the founding father of the Tea Party, I believe that's Rick Santelli."

Like Glenn, Rick Santelli, isn't always the most popular guy in the media — but he is honest.

"I've had an executive in the networks tell me, and I quote, "Glenn, we all know what's coming, we all know. But we have a responsibility to not tell the American people the truth." That's a direct quote," Glenn told listeners this morning.

For some reason, the big leaders in the media, the government and the finance world, seem to think the truth calls more panic than an ill-informed public being surprised by disaster. Like Glenn explained, information on how to survive a crisis is what prevents panic — but the first step is knowing there might be a crisis.

"I believe, as journalists: to tell you the truth no matter how ugly it is," Glenn said.

Rick Santelli is among the small number of people in the media that are will to tell the American people the hard truths when it comes to the economy. Recently on CNBC, Rick got into a shouting match with Steve Leisman over recent comments regarding possible election-year manipulation of the Bureau of Labor Statistics jobs report.

Here is the prediction Santelli made about what was going to happen with the jobs numbers weeks ago:

"I want to make a prediction for the Friday before the election for the unemployment number right now — right now! 7.9%."

Watch:

Yesterday, when it came up again, this is what happened:

Joe Kernen: "Rick, let me ask: What are you saying today? The BLS, where do they — they get numbers from somewhere, right?"

Steve Leisman: "Why would you ask Rick that question?"

"Listen to that," Glenn interjected. "'Why would you even ask him about that?' Discredit. Discredit and isolate."

RICK SANTELLI: Well we could argue about the process. We could look at how the BLS outsources to the census bureau. We could look at how the census bureau operates. Where their jurisdiction is, where it shifted in '09. But we don't need to go there — everybody's protesting too much. Here's what I will say, we have a stock market at all-time year highs, we don't have an economy at all-time year highs. You can put any jobs level 100, 125,000 —whatever you want — and put it forward if you want to say it's going to be the new benchmark, because that's under the guise of this shrinking labor force. So that number isn't really viable either.

All I can tell you is, there was no doubt in my mind a month ago unemployment would be under 8%. There was no doubt in my mind 5 minutes before the number that it would be under 8% — take it anyway you want!

LIESMAN: We can't take it anyway you want Rick, because you're implying with your comment —

RICK SANTELLI: I'm not implying anything! I'm telling ya and it turned out that way! I'm a market whisperer!

LIESMAN: Why say it?

RICK SANTELLI: Because it's true!

 

LIESMAN: It was the same point Jack Welch made.

RICK SANTELLI: I like people to get the benefit of my 32 years in the market. There was no doubt it would be under 8 percent!

LIESMAN: Why did you have no doubt, Rick?

Watch:

"Listen to the guy's belligerence," Pat reacted. "Why would you have no doubt.  It came to pass so he must have had something."

Glenn noted that Joe Kernen, the anchor, interjected with "oh, [expletive]" because he knew the ramifications of the road Santelli was about to go down.

"The guy who's the anchor knows this is going to kill Rick.  Rick is going to say things now that are going make him into a conspiracy theorist, and they're going to destroy him," Glenn said. "Rick knows it too." 

"Please America, please recognize that people are putting themselves.  They're falling on their sword so you can have the information. They're falling of their swords. They're risking their livelihoods, their families — they are doing the things that we have begged people to do," he told listeners. "They are doing it."

Glenn use to say, "one day you're going to wake up and you're not going to recognize your country." Has that day come?

"You have Rick Santelli: He's afraid to put out his point of view," Glenn pointed out. "How many Americans right now are afraid of putting Romney bumper sticker on their car, are afraid of putting a Romney sign in front of their house because they become a target?  How many people in this country are now afraid that they're going to become a target?"

A few years ago on Glenn's cable TV show, he told the American people of the four coordinated attacks — coordinated by the White House — to get him off the air or silence his speech.

"It's never happened before in American history, and no one said a word," he said, no one." That leads to more silence. That leads to people like Rick Santelli sending up a flare."

Glenn noted again that he believes Rick Santelli is one of bravest guys in the media right now. And, should the opportunity arise, he wouldn't mind having him join the team at TheBlaze…

"We would be honored to have you at the Blaze. I think he's one of the bravest guys out there.  I think he continues to show his bravery every day, and America show yours."

In light of the national conversation surrounding the rights of free speech, religion and self-defense, Mercury One is thrilled to announce a brand new initiative launching this Father's Day weekend: a three-day museum exhibition in Dallas, Texas focused on the rights and responsibilities of American citizens.

This event seeks to answer three fundamental questions:

  1. As Americans, what responsibility do we shoulder when it comes to defending our rights?
  2. Do we as a nation still agree on the core principles and values laid out by our founding fathers?
  3. How can we move forward amidst uncertainty surrounding the intent of our founding ideals?

Attendees will be able to view historical artifacts and documents that reveal what has made America unique and the most innovative nation on earth. Here's a hint: it all goes back to the core principles and values this nation was founded on as laid out in the Declaration of Independence and the Bill of Rights.

Exhibits will show what the world was like before mankind had rights and how Americans realized there was a better way to govern. Throughout the weekend, Glenn Beck, David Barton, Stu Burguiere, Doc Thompson, Jeffy Fisher and Brad Staggs will lead private tours through the museum, each providing their own unique perspectives on our rights and responsibilities.

Schedule a private tour or purchase general admission ticket below:

Dates:
June 15-17

Location:

Mercury Studios

6301 Riverside Drive, Irving, TX 75039

Learn more about the event here.

About Mercury One: Mercury One is a 501(c)(3) charity founded in 2011 by Glenn Beck. Mercury One was built to inspire the world in the same way the United States space program shaped America's national destiny and the world. The organization seeks to restore the human spirit by helping individuals and communities help themselves through honor, faith, courage, hope and love. In the words of Glenn Beck:

We don't stand between government aid and people in need. We stand with people in need so they no longer need the government

Some of Mercury One's core initiatives include assisting our nation's veterans, providing aid to those in crisis and restoring the lives of Christians and other persecuted religious minorities. When evil prevails, the best way to overcome it is for regular people to do good. Mercury One is committed to helping sustain the good actions of regular people who want to make a difference through humanitarian aid and education initiatives. Mercury One will stand, speak and act when no one else will.

Support Mercury One's mission to restore the human spirit by making an online donation or calling 972-499-4747. Together, we can make a difference.

What happened?

A New York judge ruled Tuesday that a 30-year-old still living in his parents' home must move out, CNN reported.

Failure to launch …

Michael Rotondo, who had been living in a room in his parents' house for eight years, claims that he is owed a six-month notice even though they gave him five notices about moving out and offered to help him find a place and to help pay for repairs on his car.

RELATED: It's sad 'free-range parenting' has to be legislated, it used to be common sense

“I think the notice is sufficient," New York State Supreme Court Judge Donald Greenwood said.

What did the son say?

Rotondo “has never been expected to contribute to household expenses, or assisted with chores and the maintenance of the premises, and claims that this is simply a component of his living agreement," he claimed in court filings.

He told reporters that he plans to appeal the “ridiculous" ruling.

Reform Conservatism and Reaganomics: A middle road?

SAUL LOEB/AFP/Getty Images

Senator Marco Rubio broke Republican ranks recently when he criticized the Tax Cuts and Jobs Act by stating that “there's no evidence whatsoever that the money's been massively poured back into the American worker." Rubio is wrong on this point, as millions of workers have received major raises, while the corporate tax cuts have led to a spike in capital expenditure (investment on new projects) of 39 percent. However, the Florida senator is revisiting an idea that was front and center in the conservative movement before Donald Trump rode down an escalator in June of 2015: reform conservatism.

RELATED: The problem with asking what has conservatism conserved

The "reformicons," like Rubio, supported moving away from conservative or supply-side orthodoxy and toward policies such as the expansion of the child and earned income tax credits. On the other hand, longstanding conservative economic theory indicates that corporate tax cuts, by lowering disincentives on investment, will lead to long-run economic growth that will end up being much more beneficial to the middle class than tax credits.

But asking people to choose between free market economic orthodoxy and policies guided towards addressing inequality and the concerns of the middle class is a false dichotomy.

Instead of advocating policies that many conservatives might dismiss as redistributionist, reformicons should look at the ways government action hinders economic opportunity and exacerbates income inequality. Changing policies that worsen inequality satisfies limited government conservatives' desire for free markets and reformicons' quest for a more egalitarian America. Furthermore, pushing for market policies that reduce the unequal distribution of wealth would help attract left-leaning people and millennials to small government principles.

Criminal justice reform is an area that reformicons and free marketers should come together around. The drug war has been a disaster, and the burden of this misguided government approach have fallen on impoverished minority communities disproportionately, in the form of mass incarceration and lower social mobility. Not only has the drug war been terrible for these communities, it's proved costly to the taxpayer––well over a trillion dollars has gone into the drug war since its inception, and $80 billion dollars a year goes into mass incarceration.

Prioritizing retraining and rehabilitation instead of overcriminalization would help address inequality, fitting reformicons' goals, and promote a better-trained workforce and lower government spending, appealing to basic conservative preferences.

Government regulations tend to disproportionately hurt small businesses and new or would-be entrepreneurs. In no area is this more egregious than occupational licensing––the practice of requiring a government-issued license to perform a job. The percentage of jobs that require licenses has risen from five percent to 30 percent since 1950. Ostensibly justified by public health concerns, occupational licensing laws have, broadly, been shown to neither promote public health nor improve the quality of service. Instead, they serve to provide a 15 percent wage boost to licensed barbers and florists, while, thanks to the hundreds of hours and expensive fees required to attain the licenses, suppressing low-income entrepreneurship, and costing the economy $200 billion dollars annually.

Those economic losses tend to primarily hurt low-income people who both can't start businesses and have to pay more for essential services. Rolling back occupational licenses will satisfy the business wing's desire for deregulation and a more free market and the reformicons' support for addressing income inequality and increasing opportunity.

The favoritism at play in the complex tax code perpetuates inequality.

Tax expenditures form another opportunity for common ground between the Rubio types and the mainstream. Tax deductions and exclusions, both on the individual and corporate sides of the tax code, remain in place after the Tax Cuts and Jobs Act. Itemized deductions on the individual side disproportionately benefit the wealthy, while corporate tax expenditures help well-connected corporations and sectors, such as the fossil fuel industry.

The favoritism at play in the complex tax code perpetuates inequality. Additionally, a more complicated tax code is less conducive to economic growth than one with lower tax rates and fewer exemptions. Therefore, a simpler tax code with fewer deductions and exclusions would not only create a more level playing field, as the reformicons desire, but also additional economic growth.

A forward-thinking economic program for the Republican Party should marry the best ideas put forward by both supply-siders and reform conservatives. It's possible to take the issues of income inequality and lack of social mobility seriously, while also keeping mainstay conservative economic ideas about the importance of less cumbersome regulations and lower taxes.

Alex Muresianu is a Young Voices Advocate studying economics at Tufts University. He is a contributor for Lone Conservative, and his writing has appeared in Townhall and The Daily Caller. He can be found on Twitter @ahardtospell.

Is this what inclusivity and tolerance look like? Fox News host Tomi Lahren was at a weekend brunch with her mom in Minnesota when other patrons started yelling obscenities and harassing her. After a confrontation, someone threw a drink at her, the moment captured on video for social media.

RELATED: Glenn Addresses Tomi Lahren's Pro-Choice Stance on 'The View'

On today's show, Pat and Jeffy talked about this uncomfortable moment and why it shows that supposedly “tolerant" liberals have to resort to physical violence in response to ideas they don't like.