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Newt To CNBC: "Sad How Media Doesn't Report On How Economy Works"

JIM CRAMER: Mr. Speaker, how about to you, can corporations do both?

NEWT GINGRICH: Sure. Look, obviously, corporations can and should do both. And what is amazing to me is the inability of much of our academic world and much of our news media and most of the people on Occupy Wall Street to have a clue about history.

GINGRICH: In this town, Henry Ford started as an Edison Electric supervisor who went home at night and built his first car in the garage. Now, was he in the 99 percent or the one percent?

Bill Gates drops out of college to found Microsoft. Is he in the one percent or the 99 percent?

Historically, this is the richest country in the history of the world because corporations succeed in creating both profits and jobs, and it's sad that the news media doesn't report accurately how the economy works.

(APPLAUSE)

BARTIROMO: Mr. Speaker- I'm sorry, but what is the media reporting inaccurately about the economy?

GINGRICH: What?

BARTIROMO: What is the media reporting inaccurately about the economy?

(LAUGHTER)

GINGRICH: I love humor disguised as a question. That's terrific. I have yet to hear a single reporter ask a single Occupy Wall Street person a single rational question about the economy that would lead them to say, for example, "Who is going to pay for the park you are occupying if there are no businesses making a profit?"

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