Insurance Companies Bailed out by Congress
Mother Nature reminds us just how powerful she is.
I am a big supporter of the Federal Government's support of relief efforts, but who gets the bill? I would expect that Insurance companies should pay for it. Every home and business has insurance. Sure, insurance will pay, but so will every citizen in America.
H.R. 6581 will tax every American family $115.31 to cover the Federal Government's costs related to Hurricane Sandy. I would expect that about half of that money will be well spent, but the other half will be waisted on bloated and ineffective government process. I do not want the Federal Government to do the work. Rather, I want local businesses to do the work and I would expect that insurance companies should pay to have the work done - not the Federal Government.
I am reminded of the awful job that the Federal Government did after Katrina - remembering the 10,000 mobile homes that were never used - they simply rotted in a storage lot. Will we ever learn?
Unfortunate the majority of the damage was flood related and very few people had flood insurance. Plus a large number of the homes were in foreclosure. FEMA under Bush was a disaster. FEMA under Obama is vastly improved. Some time we need government help when we can't do it ourselves. Hopefully it will be done efficiently.ReplyDelete