Posted on 09/07/2005 5:23:10 AM PDT by Brilliant
The federal government could spend as much as $150 billion to $200 billion caring for the victims of Hurricane Katrina and rebuilding from its devastation, according to early congressional estimates -- a total bill that would far surpass the initial costs of recovering from the 9/11 terror attacks and could put Katrina on track to become the most expensive natural disaster in American history...
Even as levee breaches were being repaired in New Orleans and oil spills and fires were posing new problems, a torrent of federal relief spending was under way. The Federal Emergency Management Agency is committing funds at a rate close to $1 billion to $2 billion a day, officials estimated...
But that will be only a down payment on a federal tab that all now agree is going to reach more eye-popping levels. The width of the storm's impact adds to costs. Among other things, the federal aid will include not only immediate relief but also major payments under the national flood-insurance program, and new appropriations to subsidize small-business disaster loans. What makes this disaster's costs extraordinary, however, is the fact that so many people face such a lengthy displacement and will now need housing and individual income and health assistance under a government safety net that didn't exist when the famous floods of the 1920s hit the same region...
Senate Democratic Leader Harry Reid of Nevada was the first to go public, predicting a government commitment of $150 billion. Top Republicans bridled initially, saying any such estimates at this time translated into playing "political games."
But Mr. Gregg subsequently used an even higher $200 billion estimate, and defended Mr. Reid's figure. "I don't find that crazy at all," Mr. Gregg said. "That's a reasonable estimate from what we know so far."...
(Excerpt) Read more at online.wsj.com ...
Is this more than we have spent in Iraq in the last three years ?
Maybe. Maybe more dead, too.
Lowball estimate...
It'll be 3/4 of a trillion bucks, if they decide to shore up the open cesspool that is NOLA.
If this drives up the deficit, they will scream how that is Bush's fault too.
This is why my family won't donate one cent to any Katrina-related fundraising efforts. Thousands of dollars are going to be forcibly taken from us in taxes over this. We are not paying twice, thank you.
Nagin doesn't seem too concerned that his city has been wiped out.
I found the current cost of the war . It is at present less than 2 billion .
URL is http://costofwar.com/
I don't think it should be rebuilt. IMO, just save the French Quarter if possible.
Yeah, I changed my mind about donating, too. 9/11 was different, but there are too many bad actors in the way this time - and too great a chance your donation will go straight to groups that prop up the Jackson/Sharpton Preference Cartel.
When asked, I'll tell people, "I gave at the IRS." ;)
Whoops! I meant 200 billion ..
Less than 200 billion
I see no reason why I, as a taxpayer, should have to pay for rebuilding New Orleans (coastal cities built below sea level are STUPID ideas), or rebuilding homes and businesses that were not properly insured against storm and flood. It POs me no end to hear Trent Lott screaming for $100 billion. Just more pork spending.
Geez, I could only wish I had these professed powers of creating financial estimates.
This is akin to knowing how much it is going to take to repair your automobile after it has just hit the first car in an "in progress" multi-vehicle collision.
I decided to donate to the Red Cross ONLY because they were a great help in getting my family through the Agnes disaster of 72' which devestated the Wyoming valley area of Pennsylvania .
This number doesn't even include the cost of recruiting new tarot card readers at the mayor's office.
Concerned? Why should he be concerned? He'll have a book deal any minute now.
Movie. Hollywood is going to love this hurricane.
You have just perfectly expressed one of the major problems with welfare and big government. We see it well in this current hurricane disaster and relief effort.
Before welfare, Medicare, et al., people took care of each other with individual efforts or group efforts through churches and other private organizations. The benefits then accrued to the receiver, who was appreciative, and the giver who felt good about helping someone else.
When government does it, taxes are automatically taken by some faceless, never seen, bureaucrat, and given by the same. Since there seems to be no one behind the gift, except the government and the Democrats, the recipient doesn't feel any appreciation, he feels entitled to it. The Democrats promised it to him so we all owe it to him.
Both giver and receiver end up resentful and feeling bad rather than each feeling good.
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