“Sandy raises uncomfortable questions about the extent to which taxpayers should fund the cleanup and the extent to which government programs create moral hazards. For example, FEMA and the National Flood Insurance Program (NFIP) are expected to pick up the tab for much of the flood damage caused by the hurricane. Of course, this will mean more federal debt and inflation for the rest of us, since the program only has about $4 billion to work with and is already $18 billion in debt from hurricanes Katrina and Rita. We can only hope FEMA has learned this time not to impede and frustrate private efforts as they have in the past.”
http://www.thedailybell.com/28247/Ron-Paul-The-Economics-of-Disaster
Related posts:
U.S. Spends $16 Billion Every Year To Care For Elderly Prisoners
Europe Deploys Next Generation Speed Cameras
U.S. Drones Double Tap, Targeting Rescuers
Adam Kokesh Blog Statement On Arrest
US Warns India Not to Buy Russian Weapons
THC Concentrations Don’t Predict Driving Impairment
Chicago now home to nation’s largest vertical farm
Bitcoin-friendly Internet Credit Union suddenly dumps accounts: 'regulatory issues'
Paper Money Kaput? Gold rush on rise as Europe crisis deepens
How one guy's $24 investment in bitcoins turned into an $886,000 payday
Obamacare 'SHOP' Web Based Sign Up Won't Be Ready Until 2014
DC, Maryland: Speed Camera Firms Move To Hide Evidence
Which Dominoes Are Next to Fall in Europe?
Mark Thornton: Government's War on Bitcoin
House Intelligence Chair: Strike On Iran’s Nuclear Facilities Would Not Be An Act Of War