Christie Signals Return to Prosperity

In his first interview since being elected as Governor of New Jersey, Chris Christie (R) joins Carl Quintinia, Becky Quick, Melissa Lee and Darden Restaurant CEO Clarence Otis on CNBC's Squawk Box to kick around the state of New Jersey, which is a snapshot of where our nation is likely heading.

CNBC, which has been editorially leaning left of late and paying for it with the recent departures of Bill Griffith and Senior Reporter Charles Gasparino, seemed ready to take on Christie, but he absolutely leveled all comers. Right leaning anchor Joe Keren was unfortunately on vacation.

The mandate that got Christie elected in this heavily Democrat leaning state, formerly led by Goldman Sachs disciple John Corzine (D), is to pull Jersey out of fiscal ruin on a platform of reform. Included in the reform is heavily cutting entitlements, reforming the entire retirement system and curtailing the unions, whose interference creates inefficient markets.

Take a listen to the discussion:




Gov. Christie is right on target. The time is now for the entitlement programs, which are draining the US coffers, to be immediately scaled back in major fashion and most should be eliminated over time. Excessive governmental regulation and intervention in the marketplace must minimized. The government does not create wealth, the private sector does, but the government can take it away and does in New Jersey, who is among the highest taxed states in the union. The result of this high taxation is residents moving out of the sate in high numbers, which limits economic growth which destroys wealth.

The economic principles necessary to solve these problems are easy to understand and implement, which is the path Christie signaled he is going to take. This is in contrast to our federal government, whose leaders are either economic imbeciles or are knowingly crashing the system. My money is unfortunately on the latter.