New Jersey Governor Chris Christie reacted to the news of the stock market crash on Wall Street earlier today on Fox News, blaming President Obama for racking up too much national debt.

“What’s happened is, because this president has run up more debt than any president in American history, that debt has been given to us in large measure by the Chinese,” he said.

The Dow Jones Industrial Average fell more than 1,000 points this morning shortly after the stock market opened, largely because of devastating market selloffs in China.

If the U.S. continued to rack up national debt, Christie explained that China’s economy would continue to have an unhealthy effect on the U.S.

“As the Chinese markets tends to have a correction, they will have an even greater effect,” Christie added, pointing out that Obama ”doesn’t know how to say no to spending.”

When asked what he would as president to correct the problems, he said he would fight to reduce the national debt, promote polices for cheaper energy and lower corporate tax rates.