“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

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