I’m not buying these huge losses. Some people might not spend money at the local resort for a weekend but unless they bury this money in a hole, that money will be spend somewhere else. And that will help the economy. The losses are in the physical damage that was done to both public and private property. That’s a real loss. But because a Casino lost some business for a weekend, I don’t believe that’s a big deal overall. These losses are an exaggeration and perhaps a ploy to get more Federal money.
The spending is simply delayed, this is not really a negative. The money not spent today doesn’t simply disappear, there is no expiration date on our money, yet