USA: Economy dominates Nevada Senate Race

Record ID: 347708

  • Title: USA: Economy dominates Nevada Senate Race
  • Date: 1st November 2010
  • Summary: LAS VEGAS, NEVADA, UNITED STATES (OCTOBER 29, 2010) (REUTERS) WIDE SHOT OF SHARRON ANGLE AT CAMPAIGN RALLY LOCATION
  • Embargoed: 16th November 2010 12:00
  • Keywords:
  • Location: Usa
  • Country: USA
  • Topics: Domestic Politics
  • Reuters ID: LVANX13T44YM66XAB1MUJNQQLLG
  • Story Text: For Senate Majority Harry Reid, the senior Senator from Nevada, the 2010 midterm election couldn't come at a worse time.
    While the economy is bad virtually everywhere, in Nevada - comparisons to the Great Depression seem justified.
    Nevada has the nation's highest foreclosure rate, the highest bankruptcy rate and the highest unemployment rate in the country - 14.4 percent.
    Making matters even worse, the construction industry-which was booming in the 90s has collapsed --and gambling revenues --the lifeblood of Las Vegas-- have declined over the past three years.
    All over this city are empty buildings and abandoned construction sites.
    With all of this bad economic news as a backdrop, Senator Harry Reid is asking voters for another six years in office.
    "There are three important issues on my mind and your mind: jobs, jobs and more jobs," said Senator Reid recently at a campaign event in Las Vegas. "The single most important part of my job is to create jobs."
    It's a tough sell-and most polls show Reid trailing his Republican challenger- Sharron Angle - a conservative who has sought to blame Reid for the state's economic troubles.
    The reality is that Nevada is paying a price for an exuberant run of commercial and residential construction that has left the market gutted. It's a state in which one in six borrowers was delinquent on their mortgage at the end of last year.
    "It makes the messaging for the Republicans very, very easy," said David Damore, a professor of political science at UNLV. "The econonomy's bad, and it's Harry Reid's fault."
    Even Reid acknowledges to his supporters, that Angle is leading in the polls for one reason - the economy.
    "If the economy weren't bad, this candidate wouldn't stand much of a chance," Senator Reid told Reuters.
    But the bad economic news is showing no signs of slowing down. September was the 45th consecutive month in which Nevada led the nation in home foreclosures. It's a number that has caused a lot of pain and created a strong headwind for Harry Reid as he tries to win re-election.
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