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Santelli: Obama Has Not Created Net Jobs During His Term As President

Rick Santelli: You didn't see a sharp reaction in the pre-opening equities, but a lot of times on this employment report, you wait until a full opening at 9:30, but nonetheless, we're up about 235 points now on the pre-opening Dow, and we're up about six basis points - about five points now - on the ten-year note yield. And I'll tell you what, guys, I wish you would have come to me before the number. Because 7.9! I didn't call it one month ago, I called it two months ago. But, you know what, Joe, I want you to listen to this in particular.

Joe, this is a great day. And I'll tell you, the current administration really ought to celebrate today, because outside of revisions, coming in today, from the entire term of this administration, from February '09 to today, they came in on the establishment survey down 61,000. Now, with revisions, believe me, I counted it up four times, it puts them over the top. Listen, you know what, I am not wrong. You wanna do the math... In the establishment survey without revisions, we are now up. Net job creation is in positive territory the Friday before Tuesday, without the revisions. You go to the Bureau of Labor Statistics, you add up February '09 to last month, you get minus 61,000. That is the reality. I'm a numbers guy. You guys can spin your reality.

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