“The jobs outlook in the U.S. isn’t very good,” Santelli said, “And it’s really about young people. Look at the unemployment rate among the young and you realize jobs are really most important to them. Why? Because young people, and as a voting bloc, all of you people out there — about 27 or younger — I just want you to understand they lay of the land: your generation, and the generations to follow you that aren’t born yet, are paying for a meal that previous generations like mine have eaten. We’re sending you the check.”
Rick Santelli
Rick Santelli, the man commonly credited with starting the Tea Party movement, took time during CNBC’s “Santelli Exchange” to discuss his thoughts on the U.S. national debt, student loans, and the implications of the recent Greek and French elections.
“Sometimes the math just doesn’t add up,” Santelli said, “But even more than the math, the lesson from Europe and the elections this weekend is simple: nobody is going to volunteer for austerity.”
“Austerity,” of course, refers to the method of dealing with massive amounts of debt through harsh budget cuts and major slashes in public spending; it’s dealing with “past due bills,” as Santelli puts it.
“In this country, the minute you’re born, according to the debt clock, you have about a $50,000 dollar debt — the minute you’re born,” Santelli continued.
“Now that’s per individual…if you’re a taxpayer, it’s closer to $138,000 per head. Now let’s look at what everybody wants to talk about,” Santelli said while circling the word “growth” on his dry erase board.
“Growth…is definitely something that’s in the windshield while austerity is in the rearview mirror.”
Watch Santelli discuss jobs, student loans, and austerity (via CNBC):
[…]
