NJ Gubernatorial Election Update: Barack Obama Fully Endorses Jon Corzine

Earlier this month Vice President Joe Biden joined Jon Corzine in West Orange to kick-off Corzine's 2009 campaign. On stage together, both men talked much of working together and using a positive and friendly relationship that exists between Governor Corzine and the White House. However, some skeptics pointed to the fact that Obama did not himself attend that the White House was not in full support of Corzine's re-election. Although the Vice President made it quite clear that the White House was willing, excited and had already worked with Corzine, President Obama has now made his first public statement regarding the election.

President Obama recently said, "I don't think it's surprising that he may have a significant challenge because that's, first of all, the nature of New Jersey politics," Continuing Obama remarked, "And, secondly, because a huge chunk of New Jersey's economy was tied to Wall Street and, obviously, you've seen a huge hit in terms of the financial sector of the economy, which has an impact across the board on revenue, state revenues, unemployment rates, so forth." Although admitting the challenge that lies ahead for Corzine, Obama made it clear he is confident in Corzine, commenting, "I think very highly of Jon Corzine. I think he's a terrific public servant..." He continued, "I'm confident that he can win re-election."

With the White House fully and publicly supporting Corzine, it will be interesting to see how and if New Jersey voters respond. Recent polls show Corzine trailing by up to 10%, but Obama, who enjoys a 70% approval rating in New Jersey, may be able to help convince New Jersey that Corzine is the right man for the job. Additionally, the idea that our Governor now will be able to work with the White House, a stark contrast to the past administration, is a bright prospect for New Jersey to continue to the lead the country in creating effective and socially responsible policy.

Sources & Reading
http://www.nj.com/news/index.ssf/2009/06/president_barack_obama_says_he.html
http://firstread.msnbc.msn.com/archive/2009/06/25/1977107.aspx

NJ Gubernatorial Election Update: Christie's Attacks on Corzine's Management of Economy Off-Base

Lately, Republic gubernatorial candidate Chris Christie has been lambasting current Governor Jon Corzine's leadership of the economy, using the high levels of unemployment as "proof" Corzine has failed New Jersey. Not so, says recently released numbers from the US Bureau of Labor Statistics.

Christie claims that it is Corzine's mismanagement of New Jersey's finances that have led to the current unemployment rate. However, one need only glance at the news any day to know that nationally, indeed globally, unemployment is reaching double digits in places that haven't seen such numbers in decades.

When it comes to New Jersey, which has a current unemployment rate of 8.8%, the Great State falls below the national average, which is at around 10%. Additionally, New Jersey is faring better than most states in terms of its current budget deficit and percentage change of foreclosures compared to years past. Corzine repeated this message at the Employer Legislative Committee Dinner on Tuesday saying, "Facts are stubborn things."

Yes, we can all agree the economy is not in a great place, but this is a world-wide issue, not solely a New Jersey issue. The fact that Christie, along with a few other New Jersey Republicans, actually wanted to refuse about 17.5 billion dollars in federal stimulus money does not inspire confidence that they posses the skills and commitment to see our state through recovery.

In terms of looking forward, and how best to help New Jersey climb out of this economic downturn, Jon Corzine is unarguably a financial expert. New Jersey is beginning shovel-ready projects, and putting New Jersey residents to work in building for our state. Would these same projects be happening under a different governor? Perhaps. It's hard to tell exactly what is Corzine's unique ability, and it is easy for Christie to be critical from the sidelines. Joe Biden said it best, however. At Corzine's campaign kickoff earlier this month Biden said, "Do you know who I called first when Barack and I sat down to write the US economic recovery package? I called Jon Corzine."

Considering Christie's lack of enthusiasm for literally taking money from the federal government, I don't believe he will be able to forge a successful relationship with the White House, which could potentially have large implications for our financial situation. But with a federal administration that has a better understanding of economic policy than our most recent past administration, I do enjoy the commitment between our Democratic governor and Democratic federal administration who have promised, and have already been shown, to work together to help not only New Jersey, but set the pace for the US to recover as well.

Sources & Reading:
http://www.politickernj.com/matt-friedman/30647/christie-and-corzine-give-dueling-speeches
http://money.cnn.com/news/storysupplement/economy/gapmap/index.htm
http://realestate.msn.com/article.aspx?cp-documentid=13107814