Jon Huntsman Jumps in 2012 Race

Speaking in front of the Statue of Liberty on Tuesday in New Jersey, former Utah Gov. Jon Huntsman entered the Republican presidential primaries.

What we now need is leadership that trusts in our strength, said Huntsman in his speech.

The father of seven children, Huntsman --who remains unknown to many voters across the nation and has been consistently trailing in the polls --offered a stark picture for the need to cut federal spending.

We must make hard decisions that are necessary to avert disaster, said Huntsman. If we dont, in less than a decade, every dollar of federal revenue will go to covering the costs of Medicare, Social Security and interest payments on our debt."

Huntsman warned about the dangers of losing faith in ourselves and warned that the American Dream was at risk.

Meanwhile, we'll sink deeper in debt to pay for everything else from national security to disaster relief, added Huntsman. Our country will fall behind the productivity of other countries. Our influence in the world will wane. Our security will be more precarious. The 21st century then will be known as the end of the American century. We cant accept this, and we wont.

The son of the founder of chemical company Huntsman Corp., who was first elected governor of Utah back in 2004 and re-elected in 2008, Huntsman highlighted his record in Salt Lake City.

We cut taxes and flattened rates, said Huntsman. We balanced our budget; worked to maintain our AAA bond rating. When the economic crisis hit, we were ready. And by many accounts we became the best state for business and the best managed state in America. We proved government doesnt have to choose between fiscal responsibility and economic growth.