WH Has Rejected Hurricane Recovery Loans-At Higher Rate Than Any Admin

[kpete]

Study: Bush Rejected More Storm Loans
By FRANK BASS,
Associated Press Writer


WASHINGTON - The White House has rejected hurricane disaster-recovery loans at a higher rate than any other administration in the last 15 years, according to a congressional study by Democrats.


The report, expected to be released Wednesday, said business and home loan approval rates averaged about 60 percent after Hurricane Andrew devastated much of south Florida in 1992. The trend continued through the rest of President George H.W. Bush's administration and into the Clinton administration, according to Democratic members of the House Small Business Committee.

After Hurricane Wilma surged ashore in south Florida last year, the approval rate for low-interest, taxpayer-guaranteed loans by the Small Business Administration had dropped to barely 15 percent. Overall, Democrats said, approval rates for home and business disaster loans since 2004 have averaged about 35 percent.

"This was a monumental disaster, and it requires a monumental response," said New York Rep. Nydia Velazquez (news, bio, voting record), the panel's top Democrat. "That hasn't happened. People are suffering, and it's the SBA's role to provide assistance."

http://news.yahoo.com/s/ap/20060315/ap_on_go_pr_wh/sba_hurricane_response

[muntrv]

1. Kanye is right!!

[dansolo]

2. Does that include the 2004 hurricane season?

If you take out their 2004 pre-election generosity in Florida, their record would be even worse.