Harry Reid Tries To Sell Optimism

2 years ago

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TheHill.com

Senate Majority Leader Harry Reid (D-Nev.) said on Monday that the banking industry is "very close" to being stabilized and the nation's economy is starting to rebound.

"We tend to talk about the negative. ... Things are beginning to turn and I think the American people are going to feel that very soon," Reid said during an appearance on MSNBC's "Morning Joe" show.

Of course as I'm writing this the Dow is down 105 at 7260 and dropping like a rock. This is a Dow level we haven't seen since the 1997. Which means we've just given up most of the Bush and Clinton boom. Is Harry Reid seeing something that the market missed? Or is he just getting very, very nervous about the market's negative opinion of the trillion dollar pork/spending/stimulus bill?

Take a cue from Obama, Mr. Reid: vague statements only. "Things are beginning to turn." Sounds to me a lot like the kind of comments we were getting from Mr. Rumsfeld about Iraq in 2005.

Filed Under: Senate, Economy

Tagged: economy, market, prediction, reid, stimulus

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