Chicago Tea Party In July?

UPATE 3: Will the news about the government raising taxes increase the amount of impromptu tea parties occurring around the USA? I bet it will. Probably will roil the markets (again), too.
The Boston Tea Party

Did you all see this clip of Rick Santelli, calling for the “Chicago Tea Party in July”? Everyone has, apparently.

Well, Press secretary Robert Gibbs responded to Santelli in kind today:

The White House press corps dug the “decaf” comment at the end. Pretty harsh takedown of a journalist though, no? And the ticker showing the Dow in the toilet puts a damper on the rebuttal a bit, doesn’t it?

Gibbs’ focused response to Santelli’s rant was not the end, however;  the administration also

Dispatched two high-level officials onto CNBC to rebut Santelli in more detail, Vice President Joe Biden’s economic adviser Jared Bernstein and Housing Secretary Shaun Donovan.  CNBC hosts pressed Bernstein to explain why Obama’s plan calls for allowing borrowers to refinance loans even if they have less than 20% equity in their homes. “To refinance can save a family $4000, $5000, $6000 a year in an economy that’s been extremely tough,” Bernstein said.“I don’t know that they deserve to refinance because those are the terms they signed up for in the first place,” CNBC’s Melissa Francis said.“I think we perhaps have a very different perspective,” Bernstein allowed.

Later on, Gibbs also acknowledged:there will be people that made bad decisions that in some ways will get help,” but that they are not the focus.

I haven’t read the Homeowner Affordability and Stability Plan yet, and in truth I have not found the actual plan, only a four page executive summary. There has got to be more to it than that, right? Does anyone have the actual document anywhere? Looks like I have my searching and reading cut out for me this weekend, and then a reasoned response. No rants, I promise.

And now for a cup of chamomile tea.  .  .

UPDATE: Why did this story ever grow legs and start running? The administration felt strongly enough about it that the Press Secretary rebuked the journalist by name, and sent two advisors to CNBC to defend their mortgage plan. Do people even watch CNBC? I don’t think I’ve ever tuned in! But I check out Drudge, though.  And Drudge makes news happen.

UPDATE 2: This tax proposal would likely lead to some serious outrage, though; I am glad the administration IMMEDIATELY backed away from it.



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2 thoughts on “Chicago Tea Party In July?

  1. The press will eat there own, won’t they? One man has the balls to stand up and say what he believes and all the peanut gallery can do is laugh. How long do you think it will be before Rick gets the Joe the plumber treatment?

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