Wait! It appears that the federal government has acted in the best interest of taxpayers, a rarity I assure you. FEMA has denied Maryland and the city of Baltimore for its cleanup costs in the wake of mayor, police and local government encouraged rioting by Mayor Stephanie Rawlings-Blake who felt the need to “give rioters the space to destroy” in the aftermath of the Freddy Gray death earlier this year. The price tag to the city as a result is estimated at around $30.5 million.
Now if we can just get FEMA to stop with the subsidized flood insurance in flood zones we may be getting somewhere. Why the Federal government (read, the taxpayers) would ever pay people to rebuild homes & businesses damaged by storms in flood prone areas never made sense to me. This comes under “duh?” What’s wrong with this picture?
According to liberal and also taxpayer funded I might add, NPR.org, you can buy a FEMA flood insurance policy for about half the “actuarial” rate private insurers would offer, and small wonder the federal flood insurance program is deeply in the red.
FEMA director, Craig Fugate tried to make the case before Congress for raising rates saying the current policy is a money losing proposition.
“The moral hazard of subsidizing risk is, we’re going to rebuild right where we were, just the way it was, and we’re going to get wiped out.”
Congress did pass legislation to raise rates, but the outcry was fierce! Could it be that members of Congress and the other government elites love having taxpayer subsidized protection to build and rebuild their oceanfront properties time and time again? Ya think?
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Aloha, Mikie ~just a blogger (fightin’ like a girl)
~Psst, tired of politics? Check out Travel in the Categories drop down menu (right side panel) for my blogs posted from interesting locations during my travel adventures.