Political roundup: The beginning of the end of the down economy?

By Lisa Mascaro

Monday, May 11, 2009 | 11:27 a.m.

WASHINGTON -- Good Monday morning, Early Liners, where the question on many minds is, could the end of the Great Recession in Southern Nevada be near?

All last week, as the stock market edged up and the monthly jobless report wasn’t as before, reports kept pointing to upticks in Las Vegas’ hard hit housing market as a possible sign of recovery.

Home sales increasing? Room rates rising? Is this the beginning of the end?

Check out the stories this weekend in the Sun.

This dispatch Sunday on home sales from Brian Wargo:

“Driven by first-time homebuyers and investors, existing-home sales in March reached their highest level since August 2006, raising the question of how close the Las Vegas housing market is to recovery.

“March was the 12th consecutive month in which existing-homes sales increased on a year- over-year comparison.”

And today’s piece on rising room rates from Liz Benston:

“MGM Mirage executives said demand for the company’s hotel rooms is high enough to warrant an increase in room rates, which have plummeted during the downturn.

“Raising rates in the coming weeks will help profit margins and could lead to a minor business rebound in 2010, they said.”

Maybe not so fast.

The New York Times reports this morning White House adviser Christina Romer told C-SPAN viewers over the weekend that she expects unemployment to keep rising this year, even as the economy recovers.

Still, even a few optimistic signs are welcome.

Busy week on tap both here in Washington and up in Carson City.

The state Legislature may emerge from behind closed doors to hammer out more of the budget today, reports the Sun’s David McGrath Schwartz:

“The public never sees the true debate over Nevada’s future, which has occurred this session in ‘core group’ meetings, where legislators of both parties hammer out deals.

“In Carson City, cries for openness are often met with eye rolls.”

Perhaps state lawmakers can just call in some IOUs to help balance the shortfall?

The Sun’s Jeff German reports today that “tens of thousands of corporations doing business in the state that failed to pay annual fees.

“As of last week, more than 76,000 corporations were in default, owing as much as $14 million, said the office of Secretary of State Ross Miller.”

In Washington, the House will begin considering President Barack Obama’s request for additional war funds for Iraq and Afghanistan, a tough vote for Democrats long opposed to the war strategy even as the support the president’s new direction.

Obama is drawing down troops in Iraq, with most troops to be gone by August 2010, to re-focus on Afghanistan. Nevada’s anti-war Democratic Reps. Shelley Berkley and Dina Titus have not yet publicly stated their thoughts on war spending.

One continued fallout from the war is Nevada Judge Jay Bybee’s work in the Bush administration’s interrogation methods, including the use of waterboarding, which many believe is torture.

Bybee’s work will be a topic for debate at a Senate Judiciary Committee subcommittee hearing simply titled: “Torture Memos.”

Bybee, a former Bush administration lawyer who signed off on memos, now serves on the 9th U.S. Circuit Court of Appeals in Las Vegas.

Critics have called for Bybee’s impeachment. As we reported last week, the typically reserved Bybee began reaching out to Nevada’s lawmakers last month as calls for him to step down escalated.

The Senate resumes work on credit card reform, which has become a top priority for congressional Democrats and the White House.

The bill, already passed by the House, would rein in banks’ abilities to charge exorbitant interest rates and other fees that drive consumers nuts. The bill is especially important for Democrats after Congress was unable to provide bankruptcy relief for homeowners facing foreclosure.

And lastly, lest you think Obama got the last word on Yucca Mountain in announcing the termination of the program in his fiscal 2010 budget last week, check out the round up of news items on the topic.

Today’s dispatch from Climate Wire (which appears in the online version of the New York Times) says Yucca is not dead.

Also, see this extensive cover story from on the future of nuclear waste in CQ.

And Roll Call reports this morning that the blow delivered to Yucca is a reminder of the fast friendship forming between Senate Majority Leader Harry Reid and the president, which may help the Nevadan in his re-election in 2010:

“Reid may have found the ultimate trump card: President Barack Obama.”

That’s it for now. Check back later for all the political news in Nevada.