Rick Santelli: Just Look At Government Spending . . .

CNBC's Rick Santelli joins 'Fast Money' to talk rising bond yields and what they mean for the Federal Reserve as he see the Fed running out of options. For access to live and exclusive video from CNBC

Tyler Mathisen: Why are rates going higher? Is it because the economy is going gangbusters or because . . .

Rick Santelli: . . . if you want to know where inflation is taking the markets and why, just look at government spending. The vigilantes have new horses and their riding and I really do think that is the answer. We are spending too much, we are not learning to cut back. As a matter of fact I think we're out of control as we approach a 2 trillion dollar deficit and this is the markets way to get Washington's attention.