On Thursday morning's "Squawk Box," CNBC's on-air editor Rick Santelli sounded off against raising the debt ceiling, the Democrat-controlled congress' failure to pass a budget last year, and "spendthrift" politicians. The rant echoed his famous 2009 diatribe where he called for a Chicago "Tea Party."

"It's a matter of principle. If we can't do the discretionary spending now, what chance do the conservatives have to tackle everything we know?" he said of more budget cuts.  

"But you turn on certain channels that are supposed to be news, and they vilify anything to get it under control. They say we're going to kill kids? You know, we will have problems with children if the whole damn country goes bankrupt. Wake up!"

(Video below the break.)