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Speaker 1: Joining us here at the table is the former governor

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Speaker 1: of New Jersey and Republican presidential hopeful, Chris Christy, Governor.

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Speaker 1: Thank you so much for joining us at the table.

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Speaker 2: Memory, thanks for having me.

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Speaker 1: We're going to actually cover some ground. We hope to

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Speaker 1: talk policy with you, which I know is not always

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Speaker 1: something that you're used to. But I want to just

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Speaker 1: begin with the broad scope here of this campaign and

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Speaker 1: your campaign specifically. You've gone out of your way to

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Speaker 1: make it clear that you're the guy who's going to

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Speaker 1: go after Donald Trump.

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Speaker 2: You've been punching him in the.

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Speaker 1: Nose rhetorically for several weeks. Here you're saying things that

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Speaker 1: other candidates simply will not say about.

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Speaker 2: The front runner.

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Speaker 1: But how about you, how do you solidify your brand

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Speaker 1: as something more than just anti Trump?

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Speaker 3: Well, it isn't. It's about two things. It's first about

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Speaker 3: the truth. The truth matters, and Republican primary voters deserve

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Speaker 3: the truth. They haven't gotten it from Joe Biden as president,

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Speaker 3: and they haven't gotten it from Donald Trump either, and

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Speaker 3: so part of it is just about telling the truth.

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Speaker 3: So you'll see today, whatever's issues you asked me about,

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Speaker 3: I'm going to just hit it right between the eyes

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Speaker 3: and let you know what I think. Secondly, it's about

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Speaker 3: delivering on issues that our voters care about. So the

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Speaker 3: fact is that they cared deeply about Obamacare, and Donald

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Speaker 3: Trump promised him he'd repealed and replace him.

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Speaker 2: He had a Republican in Congress. He didn't do it.

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Speaker 3: They cared deeply about immigration. He said that he was

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Speaker 3: going to build a big, beautiful wall. You remember on

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Speaker 3: the whole border in Mexico. Well, he built forty seven

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Speaker 3: miles of wall in four years. Forty seven miles at

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Speaker 3: that rate, guys, he would need one hundred and ten

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Speaker 3: years as president to be able to finish the wall.

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Speaker 3: He didn't get it done. He said he was going

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Speaker 3: to balance the budget. As you all know here at Bloomberg,

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Speaker 3: he had six trillion dollars to the national debt in

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Speaker 3: four years. So what we want to be is the

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Speaker 3: person who delivers on that. And I will tell you this,

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Speaker 3: the last time we were in a situation like this

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Speaker 3: in our country was in the late seventies, high inflation,

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Speaker 3: energy crisis, disrespect around the world. Jimmy Carter was the

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Speaker 3: president as opposed to Joe Biden. Biden said Cardish's favorite president,

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Speaker 3: and what did we do as Republicans. We nominated it

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Speaker 3: and elected a concern vative governor from a blue state

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Speaker 3: who knew how to get things done. That was Ronald Reagan.

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Speaker 3: I'm the conservative governor from the blue state now who

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Speaker 3: knows how to get things done. That's the brand. That's

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Speaker 3: what we're going to be talking about in this campaign

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Speaker 3: and about getting results for the American people and tell

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Speaker 3: them the truth.

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Speaker 2: The issue, of course.

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Speaker 4: At the moment, is that the former president is leading

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Speaker 4: in all these polls, but he has all of these

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Speaker 4: indictments surrounding him. You've been on both sides of a

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Speaker 4: federal investigation.

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Speaker 2: You of course were prosecutor. You went after corruption.

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Speaker 4: You were also not charged, but you were under the

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Speaker 4: investigation for Bridgegate. Out of all of these criminal defamation,

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Speaker 4: what do you think is the most damaging to Trump?

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Speaker 3: Well, so certainly, so far, the worst is the classified

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Speaker 3: document situation, not only because he had our nation's secrets

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Speaker 3: hanging out at Marbaco and at his Bedminster golf club.

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Speaker 3: Think about the risk that that puts our men and

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Speaker 3: women in uniform and our intelligence officers at as they

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Speaker 3: try to do these things. Difficult things around the world world,

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Speaker 3: defending and advocating for America, and he just has these

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Speaker 3: secrets laying out.

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Speaker 2: There for anybody to see.

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Speaker 3: And then he lied about it and obstructed the investigation,

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Speaker 3: and instructed his lawyers to lie and lied to his

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Speaker 3: own lawyers.

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Speaker 2: Those are some pretty.

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Speaker 3: Bad facts that put a lot of loyal, patriotic Americans

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Speaker 3: at risk. That we'll see what's gonna happen with the

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Speaker 3: January sixth charges that may come based upon the target

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Speaker 3: letter that he received yesterday, and what happens in Atlanta

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Speaker 3: and whether he gets charged there as well. So I

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Speaker 3: don't mind that the poll numbers are where they are

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Speaker 3: right now. You always would rather be in front than behind.

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Speaker 3: But remember at this time eight years ago, Jeb Bush

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Speaker 3: was ahead of Donald Trump by double digits, So we

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Speaker 3: don't have that ended up.

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Speaker 1: I want to ask you about the Republican rhetoric here

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Speaker 1: in Washington about what could be another indictment and certainly

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Speaker 1: those that have already been dropped on Donald Trump. Speaker McCarthy,

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Speaker 1: the Speaker of the House himself, yesterday said this is

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Speaker 1: a reaction by the Biden administration to Donald Trump's pulling

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Speaker 1: surge in their effort to weaponize the dog against him

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Speaker 1: as a political rival.

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Speaker 2: Do you agree with that?

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Speaker 3: I don't look, first off, because I don't even know

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Speaker 3: what the charges are yet, and neither just Kevin, and

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Speaker 3: so I would counsel Kevin that he should wait to

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Speaker 3: see the indictment first before he jumps to any judgments. Now,

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Speaker 3: it could be that Kevin turns out to be right.

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Speaker 3: Maybe these charges are completely bogus and political, like the

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Speaker 3: ones that Manhattan were, in my opinion, that were brought

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Speaker 3: by Alvin Bragg. I think that was a political indictment.

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Speaker 3: And I don't think you know when you're the Manhattan

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Speaker 3: DA and I spent a good amount of time in Manhattan.

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Speaker 3: I don't think charging somebody at a seven year old

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Speaker 3: payment to a porn star is making Manhattan any safer,

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Speaker 3: and believe in Manhattan needs to be made safer.

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Speaker 4: Republicans also say that Merrick Garland should be impeached. Do

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Speaker 4: you agree with them on that?

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Speaker 3: Well, I certainly don't know at this point whether he's

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Speaker 3: told the truth or not. Regarding the Hunter Biden case,

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Speaker 3: and I think that's where's there's some problems there with

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Speaker 3: the US Attorney Weiss and Delaware and Attorney General Garland.

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Speaker 3: Let's see who's telling the truth. If he did not

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Speaker 3: tell the truth to the Congress, the Attorney General or

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Speaker 3: the US Attorney then either one of them, if they

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Speaker 3: had not told the truth, should be removed.

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Speaker 1: All right, So we're going to embark on something new here.

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Speaker 1: We're going to talk issues with you. We'd like to

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Speaker 1: get into some policy.

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Speaker 2: I may need a time out before we well, if.

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Speaker 1: You need a minute, we can always talk about Let's

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Speaker 1: start with the economy that's important to our audience here,

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Speaker 1: and we'd like to get to a couple of areas

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Speaker 1: with you here, specific to inflation. Do you think the

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Speaker 1: FED should stop hiking rates now, should wait for the

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Speaker 1: lag effect to see what this unprecedented set of rate

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Speaker 1: hikes is doing to our economy, or do you just

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Speaker 1: keep bashing this thing until it's down to two percent?

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Speaker 3: Well, look, I think that they probably should take a

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Speaker 3: bit of a breather up to see what the lag

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Speaker 3: effect is, as you said, because what we're not seeing

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Speaker 3: is we're not seeing inflation staying.

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Speaker 2: We're seeing it drop.

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Speaker 3: And so I think that the FED may have done

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Speaker 3: its work already, and believe me, as you know, they can.

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Speaker 2: Ratchet it back up pretty quickly.

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Speaker 3: They have monthly meetings and they can do that, and

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Speaker 3: they call special meeting if they think there's some emergent

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Speaker 3: situation they need to deal with. So I think with

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Speaker 3: the FED, it might be a good time to take

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Speaker 3: a breath, because what we don't want to do.

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Speaker 2: They want to have a soft landing.

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Speaker 3: I think everybody in America would have liked to have

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Speaker 3: a soft landing on this and not have a recession

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Speaker 3: if we can avoid it. I was governor during the

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Speaker 3: eight nine ten recession, and I remember how brutal that

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Speaker 3: was for our everyday citizens. We don't want to go

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Speaker 3: through that again if we can avoid it.

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Speaker 4: FED Chair J Powell is appointed by Trump and then

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Speaker 4: reappointed by Biden. Would you consider keeping him on?

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Speaker 3: I certainly would consider it. I don't have anything that

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Speaker 3: I think Jay has.

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Speaker 2: Done horribly wrong.

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Speaker 3: I think that he probably should have started tightening sooner

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Speaker 3: than he did. I think he waited too long on that.

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Speaker 3: But look, the Fed's an independent agency. I'd like to

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Speaker 3: keep them independent. I don't think I'm certainly not an economist,

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Speaker 3: and I don't think I should be making every one

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Speaker 3: of those mics. He's a lawyer, he's a lawyer, but

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Speaker 3: he has a lot of experience in this area. I

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Speaker 3: got more than I do, and I so look, I

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Speaker 3: would consider everybody who's on board at the moment. You know,

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Speaker 3: you have to evaluate them, each one of them, one

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Speaker 3: at a time. And he's in the midst of a

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Speaker 3: term also, so you know, i'd want to be careful

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Speaker 3: about that.

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Speaker 2: But I think in the.

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Speaker 3: End, everyone's gonna be judged in my administration based on

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Speaker 3: their performance. They perform well, they do good things for

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Speaker 3: our economy. I quite frankly don't care where they came from.

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Speaker 3: I just want to have good, competent people who actually

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Speaker 3: get something done, as supposed to what we've seen in

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Speaker 3: the last number of years when government can't get out.

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Speaker 2: Of its own way.

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Speaker 1: How about the Inflation Reduction Act If you become the nominee,

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Speaker 1: this is going to be one of the things that

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Speaker 1: Joe Biden is trumping. Is a major accomplishment, knowing that

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Speaker 1: it'll result in the Hudson Tunnels in your state. We've

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Speaker 1: been hearing Republicans and it's comical the President likes to

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Speaker 1: point this out. Who voted against the IRA or in

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Speaker 1: some cases the Infrastructure Law and champion the money when

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Speaker 1: it comes home.

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Speaker 3: Well, I would divide the two. Look, I think the

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Speaker 3: tunnel money is coming from the Infrastructure Law, and I

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Speaker 3: would have been supportive of that, And we did from is.

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Speaker 2: It from Inflation Reduction Act?

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Speaker 3: And that just means that that's where they wanted to

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Speaker 3: come from to justify the Inflation Reduction Act because.

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Speaker 2: There's plenty of money.

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Speaker 3: It's a trillion dollar program, and I think they're giving

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Speaker 3: six or seven billion for the tunnels, and which they

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Speaker 3: should do because that's not just important for New York

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Speaker 3: and New Jersey, it's from Boston to Washington. But the

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Speaker 3: Inflation Reduction Act was a mistake.

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Speaker 2: And don't take my word for it. Listen to Larry Summers.

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Speaker 3: Who was Treasury Secretary back under Bill Clinton, and he

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Speaker 3: is not a conservative by any stretch. But we had

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Speaker 3: already spent too much money during COVID, money that we

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Speaker 3: had to spend to keep the economy going. But he

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Speaker 3: said in his up ed in the New York Times,

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Speaker 3: if you do the Inflation Reduction Act, we will have

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Speaker 3: runaway inflation. And it's exactly what we had and people

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Speaker 3: are still suffering from that.

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Speaker 4: So you don't like inflation Reduction Act. But you like

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Speaker 4: the six billion for the Hudson time, the six billion

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Speaker 4: from the.

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Speaker 3: Hudson Tunnel should come from the Infrastructure Act. That is

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Speaker 3: purely a political choice, Amory. That's all it is. Because

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Speaker 3: you have a trillion dollars for infrastructure.

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Speaker 4: You couldn't get plenty of money from Governor. He thought

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Speaker 4: it was cost too much money.

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Speaker 3: No, well, what we did when I was governor was

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Speaker 3: got rid of the old plan, which was called the

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Speaker 3: Arc Tunnel. The Arc Tunnel was not going to Penn Station.

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Speaker 2: In New York.

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Speaker 3: They were going to build a new billion dollar terminal

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Speaker 3: underneath Macy's.

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Speaker 2: The people, if you've ever.

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Speaker 3: Been in Manhattan and done this walk, the walk from

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Speaker 3: Macy's to to the Penn Station is no fun in

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Speaker 3: winter and in the heat of summer. And by the way,

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Speaker 3: New Jersey was gonna have to pay for any cost overruns.

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Speaker 3: New York didn't have to pay anything, and the Feds

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Speaker 3: didn't have to pay anything. I had to tell you

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Speaker 3: the truth.

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Speaker 4: I remember you campaigned on that for president as well.

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Speaker 4: You wanted to be equitable.

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Speaker 3: Absolutely, it's got to be everyone's got to And what's

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Speaker 3: happening now the tunnel fifty percent coming from the Feds,

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Speaker 3: twenty five percent from New Jersey, twenty five percent from

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Speaker 3: New York.

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Speaker 2: That's the way it should be.

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Speaker 3: The people who benefit from it should all have a

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Speaker 3: stake in paying for it. That's why I canceled that tunnel.

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Speaker 3: And by the way, we did get gateway done, planned

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Speaker 3: and ready to go. All it needed to do is

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Speaker 3: be funded on the federal side. Was already funded by

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Speaker 3: New Jersey and New York. And that got done. And

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Speaker 3: I give you President Biden credit for that. It's a

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Speaker 3: good move, and Senator Schumer deserves credit as well. But

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Speaker 3: we deserve credit for having come up with a new plan.

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Speaker 3: They told us you couldn't go to Penn station.

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Speaker 2: We came up with a plan that did. So.

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Speaker 3: Now people get a one seat ride from New Jersey

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Speaker 3: right into New York.

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Speaker 2: That's what they need.

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Speaker 1: Well, so it sounds like then you would have voted

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Speaker 1: for the infrastructure I would have bill. What then would

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Speaker 1: you say to lawmakers here in Washington Republicans who voted

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Speaker 1: against the bill but are actually running ads and raising

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Speaker 1: money on the fact that they're quote unquote bringing the

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Speaker 1: bacon ome.

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Speaker 2: Oh, welcome to politics in Washington. D c Yeah. Sure.

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Speaker 3: I mean, look, that's why I'm saying I'll tell the

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Speaker 3: truth about these days. I would have voted for the

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Speaker 3: Infrastructure Bill because this country needed an infrastructure bill to

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Speaker 3: upgrade our infrastructure across the entire country.

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Speaker 2: Our roads and bridges, our tunnels.

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Speaker 3: Are airports, our infrastructure for Wi Fi and all of

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Speaker 3: the things that you need to have internet access all

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Speaker 3: throughout this country. We needed to do that. And there

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Speaker 3: are times when government has to do those things. I

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Speaker 3: think the Infrastructure plan was Look, there are things I

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Speaker 3: would have done a little differently, but presented with that bill,

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Speaker 3: I would have voted for it.

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Speaker 2: And I said so at the time, what about.

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Speaker 4: The Trump error tax cuts? Many of them still are

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Speaker 4: living through the Biden administration. But one thing Trump did

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Speaker 4: do that is hurting some local New Jersey folks is

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Speaker 4: a cap unsolved. Do you think that cap is appropriate?

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Speaker 3: I do, And I said that as governor, I don't

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Speaker 3: think that the rest of the country should be paying

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Speaker 3: for the excessive taxes that we had in New Jersey

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Speaker 3: and New York and Illinois and California. And because it

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Speaker 3: could be deducted, you didn't feel the pain directly, and

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Speaker 3: so you know, I think putting it at the cap

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Speaker 3: where it is, I might have made the cap a

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Speaker 3: little bit more generous.

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Speaker 2: But no.

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Speaker 3: I campaign for presidents saying that we should get rid

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Speaker 3: of that deduction because what it does is it encourages

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Speaker 3: people to increase property taxes, increase local and state taxes,

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Speaker 3: and have much less of an impact on their people.

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Speaker 3: But everybody else in the country is paying for it.

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Speaker 1: We're going to be hearing from a lot of terminal

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Speaker 1: users on that answer.

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Speaker 2: I can't see you right now.

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Speaker 1: How about did you weigh in on the tax cuts?

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Speaker 1: Would you allow the Trump era tax cuts twenty seventeen.

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Speaker 2: To stay in place? Yes, you would would.

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Speaker 1: With that said, which, you keep the Trump era tariffs

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Speaker 1: on China in place because this administration seems to think

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Speaker 1: it's good business.

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Speaker 3: We need to have a totally new approach to what

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Speaker 3: we do with China, and I think the tariffs might

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Speaker 3: be a part of it. But the fact is that

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Speaker 3: what we have to do is get a lot tougher

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Speaker 3: on China in general, and we haven't done so from

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Speaker 3: a military perspective.

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Speaker 2: In terms of our own preparedness.

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Speaker 3: We haven't done so in the support of our allies.

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Speaker 3: We need to be even more strong at supporting Ukraine.

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Speaker 3: That's a proxy war with China. China is funding the

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Speaker 3: Russian Army. They are coordinating with the Iranians to provide

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Speaker 3: sophisticated weapons to the Russians they otherwise wouldn't have. China

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Speaker 3: is watching US visa et Taiwan. They want to see

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Speaker 3: can we hang in there and stick with it and

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Speaker 3: stick by an ally or will we cut and run.

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Speaker 3: We need to be much tougher on that.

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Speaker 2: So yes, you would keep the tariffs.

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Speaker 4: Or no, because besides, it's on the table. Administration is

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Speaker 4: also doing export controls. There's going to be an executive

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Speaker 4: order and outbound investment. The business community some of them

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Speaker 4: have been a little bit irked by a lot of this,

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Speaker 4: but at the same time they really double down.

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Speaker 3: I'd say the tariffs are on the table depending on

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Speaker 3: what the Chinese are willing to do for us. I

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Speaker 3: think we need to start a new era of conversation

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Speaker 3: with them, negotiating from a police to strength. So I

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Speaker 3: wouldn't commit one way or the other at this point

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Speaker 3: on the tariffs because then I'm giving away one of

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Speaker 3: the cards I can play with President g when I'm

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Speaker 3: sitting across from him the first time we meet, So you.

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Speaker 2: Like that leverage.

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Speaker 1: We're just trying to find sunlight between you and the

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Speaker 1: Biden administration's.

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Speaker 2: Policy on China.

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Speaker 1: You say you'd be tougher or does that place you

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Speaker 1: on the matter if Taiwan you mentioned that, would we

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Speaker 1: go to Taiwan's defense militarily if invaded by mainland China.

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Speaker 2: I think we have to. I think we do.

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Speaker 3: I think Taiwan is in Americans America's vital interests, And

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Speaker 3: the fact is that you do everything you can to

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Speaker 3: avoid that situation as very best you can. But in

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Speaker 3: the end, when you look at certain things and you

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Speaker 3: talk about business, you look at the percentage of semiconductors

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Speaker 3: that are produced in Taiwan, America could not do the

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Speaker 3: business we do without Taiwan as a partner. Now, you

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Speaker 3: know you do everything you can as president to avoid that.

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Speaker 3: And the way to avoid it is what I talked

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Speaker 3: about before, is standing up and being strong, showing the

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Speaker 3: Chinese that the juice isn't worth the squeeze to go

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Speaker 3: and invade Taiwan, and that the status quos that exists

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Speaker 3: now is good for us, and it's good and it's

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Speaker 3: good for them visa.

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Speaker 2: To the Taiwan.

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Speaker 4: So it sounds like though you you would if you

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Speaker 4: say you're going to go defend, you would move away

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Speaker 4: from strategic ambiguity.

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Speaker 3: No, no, no, no, that that now that's different. That's

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Speaker 3: a different question. The question of whether you know you

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Speaker 3: have a one China policy or not is very different

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Speaker 3: from if China decides to aggressively go in and invade

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Speaker 3: and try to take over Taiwan, that becomes different because

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Speaker 3: that means they're a any thing strategic ambiguity, not us

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Speaker 3: a Marie.

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Speaker 4: If like we could just end on one more. There's

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Speaker 4: been a lot of difference of opinions amongst you and

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Speaker 4: other candidates regarding Ukraine from a territorial dispute to putin

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Speaker 4: full on invasion. Mike Penn seems to be the most hawkish.

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Speaker 4: He actually went to keep is it something you would

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Speaker 4: consider doing?

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Speaker 3: Look, I think it's very important that whoever the Republican

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Speaker 3: nominee is, shows that we are going to stand with

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Speaker 3: our allies.

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Speaker 2: Around the world.

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Speaker 3: The thing that's made America different, stronger, better than any

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Speaker 3: other power that we've seen in the last five hundred

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Speaker 3: years is that we create these relationships.

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Speaker 2: Around the world that we stand with our allies.

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Speaker 3: The Ukrainians are freedom loving folks who got invaded violently

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Speaker 3: and without any provocation, and we can't allow that stuff

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Speaker 3: to happen around the world. And by the way, they're

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Speaker 3: not asking for American troops, they're just asking for the

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Speaker 3: ability to defend themselves. Those are the kind of allies

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Speaker 3: we want, and we should be able to provide them

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Speaker 3: with the military hardware they need to be able to

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Speaker 3: fight off an awful Russian invasion. Putin is an authoritarian

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Speaker 3: dictator and he's coming in there and he's going to

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Speaker 3: take as much as we'll let him take. He needs

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Speaker 3: to know that ourselves and our NATO allies will stand

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Speaker 3: up behind Ukraine, even though they're not a member of NATO.

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Speaker 3: We'll stand with them and supply them with what they need.

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Speaker 1: Would you be prepared to refill our own munitions stock

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Speaker 1: files that have been drawn down to support Ukraine?

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Speaker 2: You have to You have to know and having that

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Speaker 2: converse so you can't leave.

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Speaker 3: You can't leave the United States vulnerable to attack because

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Speaker 3: of what we're doing. This is the investment we're making

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Speaker 3: in making sure that we don't send American troops to

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Speaker 3: fight another war anytime, anywhere. It's about being prepared to

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Speaker 3: fight so that you don't have to