New Jersey Governor Chris Christie spoke for almost 30 minutes to the New Jersey League of Municipalities yesterday. Christie laid out the fiscal problems of his state, said “this is the job that I asked for and I am prepared to do it.” Of his early meeting with the State Treasurer, Governor Christie said he was presented with 378 possible freezes and lapses to honor the budget. He accepted 375 of the 378! He said we have made every” quick fix” possible, and now we are “left holding the bag.”
“We have no room left to borrow, no room left to tax.” The option is to be shot in the back [by the troops of the decades of over-borrowing and over-spending], or hold hands and jump off the cliff. We will land and we will land fine. It does not mean that it won’t be scary.” This Governor means business. Christie actually offers “hope and change” and plans to bring it.
The video is the entire speech, or read a partial transcript at Mish’s Global Economic Trend Analysis.