Is there any wonder why we are in such big trouble? Any question why the people don't trust their government anymore, and demand a change?

And I just think that we're at a point in our economic life here in our state - and - and, candidly, across the country, where increased taxes is just the wrong way to go. The people of our state are not convinced that state government, county government, local government has done all they can with the money we already give them, rather than the money that we have before.

Someone has to stay on the line and say, no, we can do this by cutting spending and reducing the size of government. That's what I was committed to doing.

Now, in New Jersey, we have more government workers per square mile than any state in America. But since I've been governor we now have fewer people on the state payroll at any time since Christie Whitman left office in January 2001. That's the right direction, Mr. President, not the wrong direction.

They said it was impossible to touch the third rail of politics, to take on public-sector unions and to reform a pension and health benefits system that was headed to bankruptcy. But with bipartisan leadership, we saved taxpayers $132 billion dollars over 30 years and saved retirees their pensions. We did it.

A retired teacher paid $62,000 towards her pension and nothing, yes nothing, for full family medical, dental and vision coverage over her entire career. What will we pay her? $1.4 million in pension benefits and another $215,000 in health care benefit premiums over her lifetime.

One state retiree, 49 years old, paid, over the course of his entire career, a total of $124,000 towards his retirement pension and health benefits. What will we pay him? $3.3 million in pension payments over his life and nearly $500,000 for health care benefits - a total of $3.8m on a $120,000 investment.

And I think what people in New Jersey have gotten to know about me over the last decade that I've been in public life is what you see is what you get. And I'm no different when I'm sitting with you than I am when I'm at home or anyplace else.

They said it was impossible to touch the third rail of politics, to take on public-sector unions and to reform a pension and health benefits system that was headed to bankruptcy. But with bipartisan leadership, we saved taxpayers $132 billion dollars over 30 years and saved retirees their pensions. We did it.

Now, do I think there has to be shared sacrifice among other nations in the world who want a stable and secure world? Absolutely, there has to be. But I don't think that America can ever abdicate its leadership role in the world because of who we are and where we've come from. We are the symbol for the world for freedom and liberty.