Chris Christie on Budget & Economy



Hillary is coming for your wallet

Wait 'til you see what Hillary Clinton will do to this country and how she will drown us in debt. We spend 71 cents of every dollar in America on entitlements and debt service. Our plan will save over $1 trillion over the next 10 years and make sure that Social Security and Medicare are there for those who truly need it. But the bottom line is, believe me, Hillary Clinton's coming for your wallet, everybody. Don't worry about Huckabee or Jindal, worry about her.
Source: Fox Business/WSJ Second Tier debate , Nov 10, 2015

The Fed should stop maintaining low interest rates

This has been the most political Federal Reserve I've seen in my lifetime. When they cut interest rates during the recession, that was the right thing to do. But they've kept those interest rates artificially low because they're trying to politically support Barack Obama. The middle class is doing worse than it's ever done before. The wealthy are doing better because of this cheap money from the Fed. If we slide back towards a recession, you cannot lower interest rates below zero.
Source: Fox Business/WSJ Second Tier debate , Nov 10, 2015

Cut taxes and reduce spending, while creating new jobs

You should have seen what New Jersey looked like when I got there. I mean the fact is that they had 115 tax increases in the seven years before I became governor. We vetoed every tax increase. There was no net private sector job creation in the eight years before I became governor, zero. We've created 198,000 new jobs in the last five and a half years.

And the fact is that we spend $2.5 billion less than we used to. But here's the bigger thing. What they wanted was something in New Jersey who was going to finally stand up and say no to higher taxes, no to more spending, and more yes to parental involvement, parental choices. We've done all those things in New Jersey. And so anybody could pick out any kind of statistics they want. But in New Jersey, it's much better today than it was six years ago.

Source: Meet the Press 2015 interviews of 2016 presidential hopefuls , Sep 13, 2015

The rich are doing fine; cater to middle-income workers

Christie worked to sway Iowans skeptical of whether he fits the bill in the conservative state. It was his 11th visit to Iowa in five years. "If I was too blunt, too direct, too loud and too New Jersey for Iowa, then why do you people keep inviting me back?"

Christie promised voters, "you'll always know who I am," and spoke about his anti-abortion views.

"The rich are doing fine," he said, adding the party shouldn't cater to the wealthy at the expense of middle-income workers.

Source: N. Y. Post on 2015 Iowa Freedom Summit , Jan 24, 2015

Five balanced budgets in a row, without tax increases

Q: You decided to cut payments to pension funds and instead of raising taxes on millionaires and businesses. The credit rating for New Jersey has actually been downgraded 8 times on your watch. What's going on?

CHRISTIE: Well, you have to remember what we inherited five years ago--an $11 billion deficit budget, 10 years of consecutive tax increases at the state level. This was an awful mess. And now, what have we done? We have five balanced budgets in a row. We had $2.3 billion in tax cuts to the businesses of New Jersey, 143,000 new private sector jobs and unemployment rate that's gone from 9.7% down to 6.5%. So, we still have work to do in NJ, no question. But we've gotten a lot of things done over the course of the last 5 years. I'm very proud of that record and I'm working every day to make that record even better as go forward. There will always be the naysayers. But I'm there getting the job done every day and I think that's what the people of NJ liked about us.

Source: Fox News Sunday 2014 interview of 2016 presidential hopefuls , Oct 26, 2014

Let government shutdown occur, until Legislature is ready

Let government shutdown occur, until Legislature is ready On one occasion, there was a special session to pass a state budget because the July 1 constitutional deadline was not met. In political theater rare for him, Let government shutdown occur, until Legislature is ready Later, in mocking Corzine during and after a 2010 showdown with Democrats over taxes, Christie said if the state government ever shuts down because there is no budget he wouldn't drag a cot into his office.
Source: Rise to Power, by B. Ingle & M. Symons, p.128 , Jun 5, 2012

2011: 2% cap on most cities' municipal spending

[In 2010] Christie ordered the legislature into a special session to address property tax reform. The first municipal spending cap votes were held in April 2011, though few municipalities--only 14 of the state's 566 cities and towns--sought voters' permission to exceed the 2% cap. Christie's plan had worked.

After getting the 2% cap, Christie wasn't done with school spending. He put in place a salary cap on school superintendents' contracts--through a rule, without the legislature's input. It would mean $9.8 million in savings statewide for school districts, around 10% of the combined $100 million they paid in 2010.

Source: Rise to Power, by B. Ingle & M. Symons, p.198-199 , Jun 5, 2012

Erased $11B in budget deficit via spending cuts

After taking office in 2010, Governor Chris Christie erased an estimated $11 million budget almost entirely through spending cuts. Thanks to Christie's policies, by May 2011 New Jersey's economy was turning around, and the state treasurer projected the Garden State would rake in half a billion dollars in extra tax revenue.

And what was the reaction of the Democrat-controlled N.J. legislature? Did its members hail Christie for his fiscal rectitude? Of course not. In fact, they cited the unexpected windfall as proof that the state didn't need austerity. "The governor has balanced his budgets on the backs of the middle class, now this gives us an opportunity to undo that," said State Sen. Paul Sarlo. Eventually, the decision on how to use the extra tax revenue was largely taken out of Christie's hands; the New Jersey Supreme Court, apparently agreeing there was no need for austerity, ordered Christie to increase education funding by $500 million--the same amount as the estimated tax windfall.

Source: The Freedom Agenda, by Sen. Mike Lee, p. 3-4 , Jul 18, 2011

To make budget deal, must get leadership talking in one room

Q: What you're dealing with in N.J. is the big battle here in D.C. too. That is the debt, that is closing the budget deficit. What's the way out of this mess?

A: The first thing is that the president had to get involved personally. And what I found in New Jersey, was there is no substitute for the three leaders in the room having to look at each other and having to hash this out. And everybody's got to put skin in the game. I mean, I gave on things that I wanted. Obviously, the Democratic Senate president and the Democratic speaker gave on things they wanted, and we came to a compromise that didn't violate our principles. And that's the key. You can't ask people to violate their principles. And so there has to be a way to find principled outcome where people are also compromising. And what the specifics of that's going to be are going to be up to the president, the speaker and Sen. Reid. But they need to get in the room and finish this off.

Source: Interview on NBC "Meet the Press" , Jun 26, 2011

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Page last updated: Jun 15, 2016