CNBC’s Rick Santelli tells Obama he can’t redistribute wealth if there is no wealth

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While discussing Friday’s jobs report, CNBC ’s Rick Santelli stressed that America “can’t keep spending like it’s 1999” when it comes to unemployment benefits, and offered President Obama a tip on wealth redistribution.

Considering Santelli’s “rant heard ’round the world” spurred the very first round of tea party rallies, which launched a movement still going four years later, the president may want to pay attention.

Santelli highlighted a comment Obama made about unemployment benefits being “good for our economy,” before saying that “after five years, it’s pretty hard to call these programs emergency spending programs.”

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As for whether throwing money at unemployment is good for the economy, the CNBC on-air editor challenged Obama to look at France:

“…I challenge him to look at the extreme viewpoint in this regard from François Hollande, the president of France, a socialist, who has tried everything the president is talking about and now is throwing up the red flag.

The Journal story today, here’s what President François Hollande said: ‘How can we run the country if entrepreneurs don’t hire? And how can we redistribute wealth if there is no wealth?'”

Santelli concluded his famous rant in Feb. 2009 by saying: “President Obama, are you listening?”



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