Rick Santelli Looks at What the Latest Debt Ceiling Increase Will Cost Each Person Living in the US
- Posted on January 29, 2012 at 4:59pm by
Christopher Santarelli
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CNBC ‘s Rick Santelli has been credited with delivering the February 2009 rant heard ‘Round the World’ that many have said was the spark that led to the Tea Party movement. Following a somewhat unnoticed vote to allow the President to raise the debt ceiling last week, Santelli is at it again.
To largely less outcry than the ‘debt crisis’ that broke out within the beltway this past summer, the Senate on Thursday voted to allow President Barack Obama to increase the debt ceiling by $1.2 trillion to ensure that the federal government can pay its bills through the November elections. With the political discussion of late largely focusing on the GOP primary and income inequality chastised by “the ninety-nine percent,” many media commentators have seemed to forget the mounting US debt that will weigh heavy on the backs of each and every American.
Rick Santelli hasn’t forgotten, and he’s quantified just how much each person will be on the hook for with the latest rise in the debt ceiling.
Santelli hashed out the population and debt numbers on CNBC Friday, where he determined that the additional increase from Thursday alone places “$3, 834 for every man, woman and child,” and if you take into account the August increase $10, 545 each. To look at the total picture, the new debt ceiling is now at $16.4 trillion for the 312 million people in the US, which equals $52, 409 per American.
“I can’t even think of a clever way to close this other than a gulp,” said Santelli said on CNBC Friday. “I don’t know that my mike is that good. How much have we heard about this last debt ceiling increase? zero.”
Watch the fiery Chicagoan go off:
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Comments (92)
GeorgieJo
Posted on January 29, 2012 at 10:45pmQUESTION—–SO does this mean everytime I see a pregnant woman—-I should think that the young baby soon to be born is in debt for $52,400??????
YES WE ARE BROKE and now breaking ANY FUTURE for the youth of this country.
Pathetic.
OMG in 2012
Report Post »Collbuzz
Posted on January 29, 2012 at 10:34pmIs it really a “ceiling” if they raise it s much? Lets be truthful, spending will ALWAYS go up; the increases are already built in. Please get educated about what all this is really about.
Report Post »jujubeebee
Posted on January 30, 2012 at 9:39amThey can cut spending and eliminate departments. This is not completely about entitlements. It is about waste which occurs in all of the government. Eliminate the departments…you can reduce waste dramaticly. We don’t need department of energy or education for instance. We can go back to less IRS agents and TSA people. There are many ways to reduce spending but instead of reducing spending they are creating more ways to spend……..like Obamacare and all the new departments Obama opened up.
Report Post »TH30PH1LUS
Posted on January 30, 2012 at 9:49amWe are witnessing Obama destroy the dollar, destroy energy production, and destroy the Constitution.
Obama’s new credit card puts $52, 409 on the head of every American. That number only works if debt is spread evenly (dare I use the word “FAIRLY”, Mr. Obama?) But DON‘T FORGET that nearly half of Americans aren’t paying taxes. So the extra debt and higher taxes gets rolled over onto.. guess who?
Report Post »TomFerrari
Posted on January 30, 2012 at 10:22amConsider that only 52% of us are paying taxes, and, you quickly find that each of us who will bear the burden of actually paying the debt, are saddled with $100,000.00 EACH!!
Report Post »GhostOfJefferson
Posted on January 30, 2012 at 10:39amIt’s not my debt, and I’m not responsible for it. I have stood my entire political life against every single program, mandate or law that increases debt, and damned if somehow now it’s my job to pay it off. Neither I nor my family owe them nothing, whatsoever. Go pound sand.
Report Post »jnobfan
Posted on January 30, 2012 at 1:23pmThe foxes are in charge of the henhouse moneytrain. They will run the train long and hard until it crashes because the foxes will be drinking rum in the Caymans and CR and the DR the day after the crash. We will be left here with Obamacare and breadlines.
Report Post »Can‘t be too far down the road the math just doesn’t support these criminal policies.
TomFerrari
Posted on January 30, 2012 at 1:32pm@ghostofjefferson…
Report Post »Look at your paycheck lately?
Filed your taxes lately?
YEP ! You’re footing the bill !
rukdnme13
Posted on January 30, 2012 at 8:38pmYou people dont understand how difficult it is, I’ve been trying to raise my debt ceiling for what seems like forever, There is not quite enough votes in my “house” but I’ m making a concentrated bipartisan effort. We will get this done! If I have to say sarcasm I”ll scream!
Report Post »jzs
Posted on January 29, 2012 at 10:02pmReagan raised the debt ceiling 18 times.
Report Post »Thatsitivehadenough
Posted on January 29, 2012 at 10:36pmTypical troll comment.
Report Post »islamhater
Posted on January 29, 2012 at 10:41pmReally? jzs thats all you got? 6 trillion dollars in 3 years compared to 2 trillion in 8 years. WTF are you smokeing..
Report Post »GeorgieJo
Posted on January 29, 2012 at 10:46pmReagan is deceased.
Report Post »BHO is in charge,
NEXT.
patrickspoint
Posted on January 29, 2012 at 11:12pmRegan lowered taxes and cut spending. Lowering taxes and cutting spending allowed the economy to expand, which caused an increase in tax revenues. Democrats in congress used that to justify more spending.
Report Post »SgtB
Posted on January 29, 2012 at 11:55pmWhat is your damn point? Seriously? Are you really going to use the false argument that a man who was President and a Republican 30 years ago did something so now we cannot look at the situation and come to the conclusion that to do that same thing again is wrong? Jesus H. Christ are you dumb! Are you aware that no one under the age of (lets see, 2012-1980 = 32, +18 = 50, -4 for the second term= 46) 46 voted for Reagan. That means that the majority of Americans and Republicans NEVER voted for Reagan.
Also, people’s opinions change. Just because you are ignorant one day does not confine you to being ignorant your entire life. The debt load for every man, woman, and child in the US is over 50k! At what point do you stop borrowing money on the guarantee that your children or the children of others will be able to fix the system and pay off their fathers’ debts? For this 26 year old Marine Corp veteran, the answer is that it will be MY generation that cleans up the house and makes our nation great again. And not Cold War great, but great as in free and full of promise. Not like the generations before who have decided that they could sell their children off as gov’t slaves so that they could enjoy an early retirement and look forward to dieing in a retirement home instead of the loving care of their family.
If you still believe that we can spend our way into success via debt, then I pity you and your ignorance and naivety. One day you will figure it out. Pray not too la
Report Post »Therightsofbilly
Posted on January 30, 2012 at 12:27amJZS
Yep, 18 tiny times, averaging about 100 Billion each, and when he left office the total debt was 2.8 T
I would not normally refer to 100 Billion as “tiny”, but compared to this administrations expenditures and waste, it is tiny.
Please note that the steepest rises of the debt ceiling just happen to occur when the dems control both houses. Look it up.
Report Post »bigdaddyt46
Posted on January 30, 2012 at 4:15amthat is a half truth. why do libs always say that??? yes he did raise it 18 times but it was because the dems, tip o’neil would only raise it xx number of dollars at a time forceing Regan to go back to congress every 8 to 9 months.
Report Post »obummer has raised the debt cieling 3.3 trillion in 6 months, there is nothing you can say to justify this, no slink away back under your rock. intelligent adults are talking here little boy.
rabblechat
Posted on January 30, 2012 at 8:51am@SGTB Well said. Semper Fi!
Report Post »sawhorse1950
Posted on January 30, 2012 at 9:43amYou didn’t have 9 % unemployment and more people were working. Now half the country is sitting on their fat asses getting a check while the rest of us work. I bet you’re one of those..Democrats and liberalism are killing us..
Report Post »dnewton
Posted on January 30, 2012 at 10:15amIt is not about raising the debt ceiling. It is about raising the debt ceiling above the ability to pay it back. So far, the President is trying to get another peace dividend from degrading the military and he is still stuck on taxing the rich. Giving presidential approval of the theory that the rich have an adequate volume of money somewhere in their couch is dishonest and it perpetuates the idea that the problem still needs no immediate solution. Both of these ideas have been tried in the past and failed in the past. The president seems to be saving these hard decisions for the next Republican administration so that the pain can be used as campaign material to get elected the next time. When Reagan raised the debt ceiling, we owed a lot of the money to ourselves. Now we owe it to ourselves and the Chinese. Even if we pay the debt back with inflated currency, the debt will not really be paid back and there will be consequences to everyone in the US. There is no moral equivalency between Reagan raising the debt and Obama raising the debt.
Report Post »TomFerrari
Posted on January 30, 2012 at 1:37pmIt’s not how many times you raise the ceiling… it’s HOW MUCH !
If my 20,000 dollar credit card has its limit raised to 20,001 then to 20,002 then to 20,003 then to 20,004 then to 20,005… eighteen times…
I will have a credit limit of 20,018.
On the other hand, if I get it raised once fro 20,000 to 30,000 then to 35,000…
WHICH IS WORSE???
Only asking for the little bits you NEED, and doing so, AS NEEDED, or
asking MONOLITHIC increases on the scale of 40% ?
WHICH IS WORSE???
Report Post »michael48
Posted on January 30, 2012 at 1:37pmjzs…I‘ll pay for Reagan’s deficit…you pay comrade ocommies…
Report Post »TiredMech
Posted on January 29, 2012 at 9:52pmThe old guard, rhinos, party leadership of both parties do not want to solve the problem of debt. They want to keep their bridges to no where, their fantastic over the top pay and bennies.
Report Post »We the peopled as just plain screwed!!!!
dnewton
Posted on January 30, 2012 at 10:20amI nominate Ray LaHood as being very representative of the problem you mentioned.
Report Post »Mutiny
Posted on January 29, 2012 at 9:42pmHow much is your candidate cutting in spending?
Report Post »3monkeysmomma
Posted on January 30, 2012 at 7:24pmMy candidate has promised to cut 1 trillion the first year and balance the budget in three.
My candidate is Ron Paul.
Report Post »doomytram
Posted on January 29, 2012 at 8:06pmIt’s a shame that we need to borrow a trillion to a trillion and a half every six months. It’s a crying shame that our Oblamer in Chief is telling his Obots that the state of our union is strong. The criminals think we can borrow and hire more bureaurats to get out of this mess. The only way to get out of this is to cut spending and massive government reform.
The Oblamer in Chief is bragging about Gov’t Motors and the EPA and calling himself successful. This would be funny, funny, ha, ha, but his Obots believe him, so it’s not funny, but very terrifying.
Report Post »smokeysmoke
Posted on January 29, 2012 at 9:39pmGO CME…. the CBOT is one of the greatest and most interesting places in Chicago… santelli is awsome
Report Post »encinom
Posted on January 29, 2012 at 10:24pmMaybe is the GOP didn’t give the 1% tax break after tax break the budget would be balance.
Obama_Sham
Posted on January 30, 2012 at 7:50am@Encinom
Oh, you mean that 1% that is mostly comprised of liberals?!? Sure, tax them at 100%…
Report Post »carbonyes
Posted on January 31, 2012 at 10:20amENCINOM, your handle should be ignoramus, cause you sure do not know what the Hell you are talking about.
Report Post »abbygirl1994
Posted on January 29, 2012 at 7:55pmCome on people, you my as well double it because half the damn country doesn’t work or pay taxes. I think we ought to make Washington pay it. They made the mess.. most of us pay our bills every month. We didn’t ask these idjits to barrow trillions.. God help us!
Report Post »marion
Posted on January 29, 2012 at 9:42pmABBY, where in the world do you think the government supposedly gets all its money to start with???
This is going to be one of the most difficult things to fix, our interest alone is going to be near one TRILLION dollars A YEAR. We the people have to prevent it from continuing,
Anyone want to see this country go the same route as Greece???? Vote for Mitt.
Anyone want to see this country saved from this abysmal demise???? Vote for Newt.
Newt wants to go down in history with the greatest Presidents in history, Mitt wants to assemble a simple economy and doesn’t worry about all the other consequences, just monitor it, so put the petty garbage aside about Newt, if it is Newt and BHO, Newt will win because we the people make him the winner. Keep your petty garbage reasons not to vote for him, hopefully you won’t be near me in the forest and off the grid.
Report Post »draftsantelliforpresident2012.com
Posted on January 29, 2012 at 7:38pmNeither of the current Republican frontrunners, Tweedledee and Tweedledum (aka Mitt and Newt) have what it takes to be the party’s presidential candidate, and neither can beat Pres.Obama in November.
Report Post »Consider the alternative, a non-politician, Rick Santelli, a passionate, savvy, man-of-the-people leader,. Rick‘s populist appeal resulting from his keen grasp of the isues and frank comments makes him a force to be considered for restoring the country’s prosperity and leading America back to greatness.
For more information, please check out http://www.draftsantelliforpresident2012.com
RightPolitically
Posted on January 29, 2012 at 6:45pmIt’s criminal. Off with their heads!
Report Post »ashestoashes
Posted on January 29, 2012 at 6:56pmRick Santorum voted to raise the debt ceiling 8 times and Newt Gingrich voted to raise it 4 times..
Report Post »http://www.youtube.com/watch?v=vH9WhAdWA_g
restorehope
Posted on January 29, 2012 at 7:05pmThese politicians should be forced to put their own money where their mouths are. Put a freeze on their salaries and perks until they balance the budget and reduce the debt. If they are unable to do it, hit the road, Jack!
Report Post »cuinsong
Posted on January 29, 2012 at 6:35pmI’m telling you people we have a know-it-all who is going to spend us into oblivion to prove he’s right!
Report Post »It’s a disease and like a gambler he thinks that he can double up and catch up. He keeps spending to justify his wrong policies. This has got to stop! This song is for Obama called “Don’t get him started”
http://www.reverbnation.com/play_now/song_11916731
progressiveslayer
Posted on January 29, 2012 at 6:13pmOur republic will cease to exist when China and other creditors decide to cut off the credit,when that happens SHTF and it’s endgame.You think these little bits of violence here and there are bad,you aint seen nothin yet.These anarchist’s are frothing for violence to turn into a full fledged civil war.
Report Post »BubbaCoop
Posted on January 29, 2012 at 5:59pm“I don’t know that my mike is that good.”
Transcription person…it’s MIC
Report Post »Snowleopard {gallery of cat folks}
Posted on January 29, 2012 at 5:59pmSoon enough we will go completely over the cliff into the abyss and never return. Hold on to your hats for the drop is a doozy.
Report Post »JP4JOY
Posted on January 29, 2012 at 5:48pmAnd all the while the rest of the world moves further away from the US$. China and Japan will now deal with their own currencies in foreign exchange. India is buying oil from Iran in Gold. Russia and China have a new trade agreement to trade in mutually agreed upon funds/commodities. The BRIC is still on course to set up their SPDR currency exchange. Iran is no longer selling oil to Western Europe. In a very short time the US$ will be in free fall and very few of us have parachutes. LOOK OUT BELOW!!
Report Post »gofigureinternational
Posted on January 29, 2012 at 5:47pmNo one in the lame stream media ever puts these numbers in perspective. From a “stimulus” standpoint, BHO has dropped what roughly 6 trillion now since taking office? And for easy figures lets round the population to 300 million without illegal immigrants. That is $20,000 per man, woman and child per family that has been spent in 3 years! It can be looked at either way, would you have “stimulated” the economy if they had handed you $20K per person in your family 3 years ago? Or, have you spent that amount in that time? If the answer is NO, the government has spent that for you, borrowing it from China or printing money to cover the debt committing you to the same. IF the media would actually present the story like that, Term Limits would not be necessary, they would all be voted out very shortly:)
Report Post »Tomfang
Posted on January 29, 2012 at 10:09pmThat is $20,000 per person OVER SPENT in the last 3 years,or in other words, put on our credit cards without asking. If you add up all the money spent over the last 3 years it would come to about $50,000 per person or $200,000 for a family of four.
Report Post »sbenard
Posted on January 29, 2012 at 5:45pmHere is an equally powerful presentation regarding the magnitude of our debt crisis by Bill Whittle, a buddy of Andrew Klavan. He is one of the best conservative communicators today. This is his explanation of last week’s debt ceiling increase. He calls Obama and his friends “weak-willed, power-hungry elitists”. This one is called the Vote Pump — “this giant, sucking black hole”:
http://youtu.be/u24nH03NccI
A few more Whittle gems:
Report Post »http://youtu.be/ecrNpNikOUA
http://youtu.be/GdtqtfXdR-c
http://youtu.be/xWmsoAP-HoE
bigdaddyt46
Posted on January 30, 2012 at 4:58amthanks for those links he kicks ass
Report Post »Razorhunters
Posted on January 29, 2012 at 5:42pmSorry , Me and Mine own NO debt…
Will not pay any taxes to this Criminal Govt…
Taxation without Representation…FU.
Live Free , Hang the fargin Criminals…
Report Post »AFriedmanFan
Posted on January 29, 2012 at 10:19pmThis is what I’ve been thinking too. I don’t think there are any options left to us. When gov’t has the purse, and we get thrown in jail if we don’t pay taxes, it means we don’t have options. I am looking for options and the only one so far is stop funding Fedzilla.
Report Post »Sirfoldallot
Posted on January 29, 2012 at 5:34pmNo 1 cares as long as they can borrow more. Trillions , realy ? Stock up on food , guns , pray with ur bible, & hope u can weather the storm thats coming. Hug ur kids & say ur sorry 4 the nut jobs we all elected, hold on.
Report Post »yiska8
Posted on January 29, 2012 at 7:00pmAgreed. People think living near the border is bad, but when the poop flies, I gurantee, people will be fleeing into Mexico where the dollar may still be worth more than pesos. Imagine, an American invasion into Mexico! We’ll all be seeking political asylum.
Report Post »momrules
Posted on January 29, 2012 at 5:34pmThis was done quietly, with no fanfare, even on Fox. I’ve heard more about Demi Moore and the cruise ship than what our politicians are doing to us.
I have heard nothing on any news station about the Georgia/Obama eligibility case and him dismissing being subpoenaed to court. Has anyone?
Report Post »JP4JOY
Posted on January 29, 2012 at 5:51pmAmerican Thinker ran an article 3 days ago. Tried to get the Blaze to link to it but they blocked my posts every time I tried.
Report Post »EMM1969
Posted on January 29, 2012 at 5:56pmAnd you probably won’t hear about it. The dictator controls the media.
Report Post »drhunt
Posted on January 29, 2012 at 5:30pmIt’s a pathetic testimony to where our country has been driven. When you’re conversing with one of your liberal friends, (assuming you still have any), ask them the following questions.
1)Since 1900, how many times have the Conservatives had a filibuster-proof, super-majority in the Senate? How many times have the liberals?
[answer]: The conservatives have NEVER had it, while the liberals have had it 5 times…Woodrow Wilson, FDR, LBJ, Jimmy Carter and BO.
Then, ask them what pieces of legislation were passed by the liberals while the GOP couldn’t fight it, and what portion of our current budget is earmarked for these programs.
The road to hell is paved with good intentions.
Report Post »progressiveslayer
Posted on January 29, 2012 at 7:09pmWe’re on the highway to hell and our Marxist POS president will gleefully plunge us into hell because that was his intention from the beginning.I believe the deliberate destruction of our economy is happening
Report Post »right now because Barry isn’t that stupid,he knows exactly what he’s doing.
sbenard
Posted on January 29, 2012 at 5:22pmRick Santelli is the only glimmer of light in the Channel of Darkness that is the Obamanomics Channel.
Report Post »Tower7_TRUTH
Posted on January 29, 2012 at 5:29pmThese 20 corporate chiefs took home the most pay in 2009. Some of their companies were profitable, and others…not so much.
1 of 20
BACKNEXT
1. Larry Ellison: $84.5 million
Larry Ellison: $84.5 million
Company: Oracle
Cash compensation: $6.1 million
Stock and options: $78.4 million
It‘s been a good past few months for Oracle’s brash CEO: Ellison won the America’s Cup sailing event in February, and the just-finalized proxy filings showed he took home more pay than any other U.S. CEO in 2009.
Report Post »http://money.cnn.com/galleries/2010/news/1004/gallery.top_ceo_pay/index.html
LIBS-ARE-DINGLEHEADS
Posted on January 29, 2012 at 5:21pmIt is a wonder NBC keeps Rick on the air. Of course, firing him now would REALLY let everyone know how biased they are. he and the late Mark Haynes are the only ones worth listening to on that idiot network. The only thing CNBC is good for is real time data.
I leave it on under “mute” – except for when Rick is on.
Report Post »SoupSandwich
Posted on January 29, 2012 at 5:13pmSince roughly 50% don’t pay jack, we then individually owe 104,000.00 each. No thanks.
Report Post »CatB
Posted on January 29, 2012 at 5:32pmYes that is how I see it also .. and those who pay NOTHING or get money out of the system are the ones wanting more and calling for “fairness” … where is it “fair” in that.
Report Post »mamawalker
Posted on January 29, 2012 at 5:08pmAnd the BO supporters say More, More, More…Yes We Can…his poll numbers are rising every day! We are in big trouble Patriots! I am sad for my children and grandchildren as leadership on both sides have no idea what “bottom” is going to look like and they are bent on getting us there…one side just quicker than the other!
Report Post »SamIamTwo
Posted on January 29, 2012 at 5:02pmThe politician’s thinking is that the treasury department is an endless bucket of money as everyone will pay taxes till death do us part.
Report Post »