Angle Says Reid Building Financial House of Cards

Four-term Nevada Assemblywoman Sharron Angle (R-NV), a conservative Republican running for the U.S. Senate seat currently held by Harry Reid (D-NV), charged the Majority Leader with building a financial house-of-cards, an illusion that will collapse in the months ahead. “The just-released preliminary third quarter gross domestic product of 3.5 % is the high-water mark of the U.S. economy,” Angle stated. “You cannot sustain real economic growth by government spending alone.”

Angle said that the sizeable drop in the Consumer Confidence Index (CCI) in October should be a message to Reid that there is no national confidence in his “solutions” to revive the economy, contrary to what Vice-President Biden said about Reid during a speech in Reno. “Consumer spending accounts for about 70% of U.S. economic activity,” Angle stated. “With the Consumer Confidence Index dropping almost 10% from September, it shows that shoppers have a grim outlook for the future, leading to a worsening business climate, fewer jobs and lower salaries.”

Angle said that the latest CCI numbers indicated further bad news for Nevadans on top of the already high unemployment numbers in Nevada. “America’s unemployment rate will continue to ratchet upward, but according to Harry Reid these continually increasing jobless numbers are only considered ‘troubling’. With over 190,000 Nevadans unemployed, what Harry is really saying is that Nevada’s unemployed are not a top priority for him. Reid’s support of the stimulus package and runaway government spending have been total failures in terms of trying to create real, permanent jobs. It’s obvious that Reid is in way over his head — He has failed to get America on the economic march once again.”

Angle said there are real solutions in the free market. “The first step is to replace this undisciplined government spending binge with a budget freeze to restore consumer and small business confidence.”