Harry Reid on the Housing Crisis and the Economic Stimulus

Harry Mason Reid is the senior United States Senator from Nevada and a member of the Democratic Party, as well as the U.S. Senate Majority Leader for the 110th Congress.

Reid has been leader of the Senate Democrats since 2005, serving as Minority Leader from 2005 until the Democrats won control of the Senate in the 2006 congressional elections. Reid is the first member of The Church of Jesus Christ of Latter-day Saints to serve as Senate Majority Leader. His new memoir, The Good Fight: Hard Lessons from Searchlight to Washington, was released in May of 2008.

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TRANSCRIPT

Question: Is the worst behind us?

Harry Reid: I met with some home builders yesterday from Nevada and around the country. I said, “Is the bottom in the housing market yet?” They said, “No.” We still have a ways to go. The housing market has not reached bottom. That’s not good. We know that the financial markets are still in turmoil. They’ve stabilized a little bit and that’s good. Maybe the rebates that we’ve given will help a little bit. But we have a lot more to do. We have to do something with the housing industry so we don’t have these kinds of problems in the future. I think that we have to recognize that we need a job creating society. I think that one thing that’s out there that should be done and could be done if we had the support of the president is move to alternative energy, renewables--sun, wind, geothermal. We would create millions of new jobs. Not only that, may have an environment that’s cleaner and more pure.


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