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Obama asks Congress for $60.4 billion in Sandy aid
Associated Press ^ | Dec. 7, 2012 8:58 PM ET | Andrew Taylor

Posted on 12/07/2012 7:53:40 PM PST by Olog-hai

President Barack Obama asked Congress Friday for $60.4 billion in federal aid for New York, New Jersey and other states hit by Superstorm Sandy in late October. It’s a disaster whose cost is rivaled only by the Sept. 11, 2001 terrorist attacks and the 2005 Hurricane that devastated New Orleans and the Gulf Coast.

Obama’s request adds a huge new to-do item to a congressional agenda already packed with controversy on how to resolve the nation's budget woes and avoid the so-called fiscal cliff.

“Our nation has an obligation to assist those who suffered losses and who lack adequate resources to rebuild their lives,” Jeffrey D. Zients, deputy director of Obama’s budget office, wrote to congressional leaders. “At the same time, we are committed to ensuring federal resources are used responsibly and that the recovery effort is a shared undertaking.”

The measure blends aid for homeowners, businesses, and state and local government walloped by Sandy and comes with just a few weeks to go before Congress adjourns. Whether it passes this month or gets delayed in whole or part until next year is unclear. Most of the money—$47.4 billion—is for immediate help for victims and other recovery and rebuilding efforts. There’s another $13 billion for mitigation efforts to protect against future storms.

(Excerpt) Read more at hosted2.ap.org ...


TOPICS: Government; US: District of Columbia; US: New Jersey; US: New York
KEYWORDS: hurricanesandy
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To: Sooth2222

Beachfront properties in New Jersey typically sell for much more than the Federal Flood Insurance limits. So, no, many aren’t fully covered even if they paid for insurance.
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For beachfront properties, much (and, frequently, most) of the selling price is for the LOCATION of the property. I’ve seen real crappy, cheaply built properties near to the ocean or gulf sell for many times what it would cost to completely raze and rebuild.

Again, let’s not subsidize those who chose to avoid the cost of paying for flood insurance—and, instead, decided to gamble that they’d never be flooded or, if they were flooded, we non ocean-front taxpayers would pay for their new replacement building.

Let these two blue states work out how they’re going to handle this.


21 posted on 12/08/2012 9:44:32 AM PST by House Atreides
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To: Olog-hai

Note to the GOP - let him have the $60 billion for Sandy, with it deducted money for Obamacare.


22 posted on 12/08/2012 1:07:33 PM PST by Wuli
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