National Flood Insurance Plan is $23 BILLION in the hole

[SoCalDem]

and they have YET to pay Katrina/Rita/Wilma damage.. Heaven help any midwestern states that get some spring flooding. The current estimate is 24 Billion, and that does not include rebuilding lots of the area they plan to abandon..

I am watching the c-span replay from yesterday where they are trying to figure out how to pay for the hurricane damage..


An admin toady just told a whopper too. Said that the MOST FEMA/Flood Ins had paid out was in '04 for the 4 hurricanes.. he claimed the TOTAL was 2.2 billion.. I distinctly remember an 8 Billion figure tossed around, and that was not for all 4 hurricanes..

I am looking for some figures to back that up..

Apparently george lied when he said the US would pay "whatever it cost".. Another Bush-lie for people who have lost everything:(

[Burried News]

1. An excellent repository for the energy corporations' excess profits tax

Hell that's only three months' profit for Exxon.

[Warpy]

2. In the meantime, notice we have national flood insurance

so the wealthy can rebuild their oceanfront pleasure palaces after a hurricane, but we have no national health insurance so working folks can keep body and soul together.

This country is SO screwed up.

[SoCalDem]

3. the sad story about NOL:A is that most people with paid-off

OLD homes or home that have been in the family for hundreds of years, were not required to have flood insurance, and since lots of those people were poor and their home was their only asset...they are royally screwed.

Mortgaged homes required flood insurance, but even then there's a MAXIMUM of $250K, and when there are so many to be bailed out, you can bet that there will be few settlements of that magnitude.