Funding the Response and Recovery from H. Sandy – two mechanisms
Recent postings have focused on the pending Congressional actions for supplemental funding for relief and recovery from H. Sandy. The prospect looms for a major debate/battle in the Congress. Hopefully, some discussion of future threats, risks, vulnerabilities will occur and it will not just be another example of the political warfare that Congress has been displaying of late.
There is a second component of the funding that has not been getting much attention – the role and function of the National Flood Insurance Program (NFIP). I am no expert on the details of that program, but a recent NY Times article caught my attention: Flood Insurance, Already Fragile, Faces New Stress, NY Times, Nov. 12, 2012. One brief excerpt:
The federal government’s flood insurance program, which fell $18 billion into debt after Hurricane Katrina, is once again at risk of running out of money as the daunting reconstruction from Hurricane Sandy gets under way. de it clear to me just how important and how dysfunctional the program is currently.
Since the problems and issues are numerous and complex, please read the full article to understand how important this funding source is and could be.
Thanks to Tom Antush for calling this article to my attention.
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