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"Stop Spending!": CNBC's Santelli Warns Liesman "November 2nd Is The Day"

"I want this government to stop spending! Stop spending! Stop spending! Stop spending! STOP SPENDING! That's what we want! Stop spending," Rick Santelli yelled from the floor of the Chicago Board of Traders.

"Go back to Russia where you understand the state and the citizen," Santelli told CNBC analyst Steve Liesman after he argued against the benefits of tax cuts.

Santelli briefly left the camera's view, leaving Liesman to defend the Obama administration's economic policies.

Santelli returned to warn Liesman the results of "spending, spending, [and] spending.

CNBC's Becky Quick defended Liesman and spending, saying "there are times when the government has to step in."

"And a couple of trillion of dollars later they're [the government] done because the taxpayers are the people voting and they're done, Steve. Talk all you want, they're done. Merkel's done. Europe's done. The voting electorate has said they're done," Rick Santelli shot back.

"Our deficit is too big and we need to live too prudently," Santelli told Liesman who was still trying to defend government spending.

"November 2nd, November 2nd, November 2nd is the day," Santelli finally warned Liesman.

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