Reid talks economy at Asian Chamber luncheon

By Ashley Livingston

Thursday, Oct. 23, 2008 | 3:20 p.m.

Senate Majority Leader Harry Reid today reiterated his support for the federal government's bailout of Wall Street and advised Americans to disregard negative campaigning in the presidential election.

As the guest of honor at the Asian Chamber of Commerce monthly luncheon at the South Point hotel-casino, Reid spoke to local business people as well as invited guests, students from Clark High School's Academy of Finance, about some of the challenges faced by his constituents and the rest of the nation.

"We all know that the economy is in very difficult shape," Reid said to the crowd.

With vacant houses becoming more and more prevalent in neighborhoods across the city, Reid dove right into an issue that has been hitting close to home.

"By the end of the year 1 million American homes will be in foreclosure," he said.

Despite that dire prediction, Reid talked of hope coming in the form of a housing bill.

Under the provisions of the bill, block grants will be set aside that can be used to aid in reoccupying foreclosed homes with new owners, he said.

On the other end of the spectrum, he said relief may also be available for those in danger of losing their homes. He urged those in financial trouble to answer their phones and to not throw away their mail as often times lenders will be wiling to work something out.

"There are people willing to help," he said.

As for the economy as a whole, Reid lauded congress' economic recovery package. With its passage, Reid said, credit markets are becoming unfrozen.

"It will take time, but things will get better," he said.

One thing that needs to be done to reignite the economy, he said, is to create more jobs. Jobs could be created by building infrastructure and developing alternative forms of energy, he said.

Addressing an issue that lately has taken a backseat to economic worries, Reid outlined steps that need to be taken in immigration reform.

First the northern and southern borders need to be protected, he said. Additionally, a meaningful guest worker program that works needs to be established.

Reid said the 1 million people who are here illegally need to be put on the road to citizenship and the children of immigrants need to be granted health care and schooling options.

As his time at the podium was winding down, a handful of attendees took the opportunity to pose questions to the senator. Among them was a Clark High School student who questioned how the economic bailout plan will help families pay for college.

Reid told the student that Congress has increased the amount of Pell grants and made more loans available and said that he hopes to see tuition tax credit made permanent.

In closing, the senator offered advice to those who will soon cast their ballot for either John McCain or Barack Obama.

"I've worked with both of these men, and they're both good men," he said.

"Disregard negative campaigning," he said. "Look at who you think will be the best person for the job."

Ashley Livingston can be reached at 990-8925 or [email protected].