Thursday, June 10, 2010

The Transformative Power of Rick Santelli’s Rant

The National Review reports:
After the latest round of primaries, some lessons can already be drawn from this political year. Incumbents are not popular, especially Democratic incumbents. Democrats’ big-government programs are hugely unpopular. Economic distress has made Americans yearn not for more government but for less.

How to explain something contrary to the New Deal historians’ teaching that economic distress increases support for big government? Clues can be obtained, I think, by examining what amounts to the founding document of the tea-party movement, Rick Santelli’s “rant” on the CME trading floor in Chicago, telecast live by CNBC on Feb. 19, 2009.