Pat Dollard | Young Americans

Congress’s biggest “shovel ready” project, ladies and gents:

The Hill:

Harry Reid: Economy starting to turn around

By Bob Cusack

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.

Reid’s comments contrast with recent remarks of President Obama, who has repeatedly said the economy will get worse before it gets better.

Reid said, “We’re getting very close to stabilizing the banking industry.” He added that he traveled around the country last week and was impressed with what he saw, noting he was in Dallas to see firsthand what AT&T has invested in broadband technology.

Former President Clinton last week urged Obama to be more upbeat on the economy, telling ABC’s “Good Morning America”: “I just want the American people to know that he’s confident that we are gonna get out of this and he feels good about the long run … I just would like him to end by saying that he is hopeful and completely convinced we’re gonna come through this.”

Earlier in the interview on MSNBC, Reid said that the previous administration put the country in “a big hole,” suggesting that the road to a complete economic recovery will take some time.

Responding to criticism of the stimulus from a few GOP governors, Reid pointed out that many Republican governors from Florida to California backed the stimulus legislation.

Reid added, “We understand the Republicans are betting on failure. We’re betting on success. The stimulus package will help.”

Reid defended the federal government’s role in helping the banking industry, brushing aside “nationalization” concerns by noting the government has previously temporarily aided other business sectors, citing the railroad industry.