Showing posts with label Ric Santelli. Show all posts
Showing posts with label Ric Santelli. Show all posts

10 October 2010

Coffee, Tea or Cocktail Party?




Since President Obama has taken office, the Republicans and the Democrats have been challenged by a few new “parties” to the political scene. While these factions have not yet sought to create formal party apparatuses, they are seeing to influence the established political parties.

Clearly, the TEA Party has stirred the grassroots of the American political field. While there may be other embryotic origins for the Tea Party, many attribute an on the air rant by Rick Santelli of CNBC as being the inspiration for the movement. In February 2009, while he was filing a live report on the floor of the Chicago Mercantile Exchange about the Homeowners Affordability and Stability Plan, Santelli vents about the poor financial plans that the Federal government was implementing. The CNBC reporter turns to the traders and asked if they should be forced to subsidize the bad behavior of others’ home loan, which elicited a bevy of boos. Santelli spontaneously suggests throwing a Chicago Tea Party.

The Tea Party is a reference to the iconic Boston Tea Party of 1773 when the Crown tried to impose the Tea Act. American colonists protested this tax for many reasons but especially because it violated the perceived principle that Americans had the right to be taxed by its own elected representatives. The Sons of Liberty took matters into their own hands by boarding the ships dressed as aboriginal Americans and throwing the merchandise into Boston Harbor. This was considered to be a key event in advancing the nascent American Revolution.

Within two weeks of Santelli’s clarion call on CNBC, there were protests in 40 cities around the country in reaction to Porkulus, a.k.a. the $787 Billion Stimulus Package that was rushed through Congress. The contemporary TEA party picked up steam by widespread nation wide protests on April 15th 2009, tax filing day. The terrific turnout at these ad hoc grassroots events showed participants that they were not alone and that they were Taxed Enough Already. Points of commonality included: lowering taxes, stopping wasteful government spending, reducing that national debt and adhering to the Constitution.

During the August Congressional Recess, when elected Federal officeholders often tour their districts on listening tours and hold Townhall Meetings, they were greeted by motivated Tea Party activists, who asked hard questions. Some of these Townhall Meetings were quite contentious. So much so, some lawmakers cancelled their public appearances since these Town Halls were not the typical constituent cake walks.