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DC to NE – Drop Dead!
If you’ve lived in NY for a long time, it is very hard to forget this now famous, headline. I think the Daily News will be able to reuse this title page again sometime over the next month or two. NY and NJ have stuck out their hands, and requested a very lumpy $80B from Washington to cover the cost of the clean up from Sandy.
Man is this bad timing. If granted, the cost to the Feds would be reflected in the 2013 budget. Good-bye to any hope of improvement in the overall deficit picture if this nut has to be paid. The $80b that has been requested is more than the revenue from a reversal of the +$250k Bush tax cut. It comes to $530 for every worker in America.
The 2011 Budget Control Act limits annual payments of disaster relief to $11B. So the $80B is going to require a special spending bill. That’s not going to be easy to achieve in Washington with all the Cliff/money issues that are now on the table.
NY’s big Democratic Senator, Chuck Schumer is very much in the middle of this. He knows he has problems with this request. From The Hill (Link).
“There is no doubt this is going to be a hard fight. It comes in the middle of strenuous negotiations around the fiscal cliff.”
Schumer is a weasel; he also had this to say about the process of getting the necessary legislation passed:
I am working to keep the quest for Sandy aid separate from the talks and to preserve a tradition of not offsetting disaster relief.
Separate? How can you keep $80B separate? The issue of not offsetting the cost of a disaster by reducing other spending is not going to come easy. Some Republicans are going to insist that there be cuts in the budget to offset a big portion of the Sandy clean up. An aide for Eric Cantor chimed in with this:
Cantor has made clear that needs beyond the $11 billion allotted by the Budget Control Act will be properly considered.
Properly considered? That is Washington speak for, “No way in Hell”.
There is an element of this that is going to prove difficult for the NE legislators. Why are the costs of Sandy so high? Answer:
Schumer wants to do away with limits such as a $31,000-per-home cap on repairs because of high home prices and expenses in the New York area.
Ah! That explains it. The numbers are big because of expensive beachfront homes. This is not going to sell very well, nor should it.
I’m looking for a big fight over this money, and I think it has to be part of the Fiscal Cliff discussions. It is too big a number to sweep under the carpet. There is the broader issue of what really should be the role of the Federal Government when weather turns bad. It’s way past time for a discussion of the costs of cleaning up properties that are in storms way. The folks who don’t live on ocean water, are subsidizing everyone who does.
If you live on the West Coast the weather report this morning is terrible. Another “Pineapple Express” is headed to land. The expectations are for winds north of 80mph and rainfall of as much as 12 inches. If that is what happens, expect to see pictures of houses being washed down the streets of Bel Air. A storm like this could easily cost $10B.
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Taxpayers problem.
FTFY.
Dollar holder problem.
FTFY
Fuck 'em. Pay for your own shit.
Well, I would just love to see who is going to pay for the cost of the 2012 drought which is expected to continue into 2013...
http://money.cnn.com/2012/08/03/news/economy/drought-crop-insurance/index.htm
I'm sure the Bernank has doubled his order of paper and ink. Let's hope the printers hold out with this year end binge of printing!
Ben's only got HP printers.Red ink only.
Chuck Schumer is a certified ASSHOLE period.
You know the O man will leave Bloomberg and "fat boy" high and dry with the "no money honey" in this Budget for your Blue State Asses.
I'm reelected and I don't give a flying fuck about your mess period.
$80 billion? Who dreamed up that number? Initial estimates were $20-25 billion in insured losses, with no hurricane clause deductible. How are the losses four times higher? Sounds like an absurdity--an opening to negotiations...like Casablanca's Rick Blaine at the souk with Ilsa, "well, for friends of Rick we have a special price," as a drastically discounted price tag is displayed.
"Initial estimates were $20-25 billion in insured losses"
Quite simply the initial estimates were pre-election total BS. I called for $100B and I still do.
$100B or GTFO.
Agreed but no matter how much it is WHY is it the federal government's job to pay anything? This is beyond ridiculous... Shouldn't have for 911, or katrina, or rita, or.... WTF
You know why. Sure you do.
To fight the terrorists?
I give up.
Cause ol' Chuckie Shumer ain't leavin' his peeps in the lurch.
Its a planned money laundering operaton for broke local goverments.
Indeed. Uncle Sugar funded the creation of municipal "Departments of Sustainability" a few years back in order to setup a new system for grant distributions. It all started out about making them more energy efficient, but it quickly expanded to be the point-of-contact for all things fedgov.
"Let no crisis go to waste."
Bruce Krasting became welfare queen & socialist whiner on 11/29/2012
Your former self is missed, Bruce.
Choomwagon going up!
Hey Bruce, maybe Mayor McBloomberg and all the best friends of everyone's favorite bankster puppet piece of ass, one Ben Bernkankle, including Lloyd "Holy Padre" Blankfein & Jamie "Blythe On" Dimon, will do a charity event and raise lots of BernaxBux for what New Yawkas are calling "1 zillion times worse than Katrina."
Yes, by all means, let's subsidize the most arrogant, obnoxious, over-paid libtards in the country.
I phart New Yawk.
Do you suppose the DC insiders are thinking: "I wonder if I can just get another $100B out of the system without blowing the whole thing apart?"
or do theyreally think :" hey we gotta pay this back some day so we should be cautious" /sarc off
"I wonder if I can just get another $100B out of the system without losing my seat?"
FTFY!
The idea that they would even consider anything else is silliness.
$80,000,000,000
Look, I just created 80 billion dollars! See how easy that is?
Chump. Billions are for little girls. Throw three more zeros on that bitch if you're a real man.
But my finger hurts...
110 billion ...
Ben Bernanke can print that right up with his morning coffee
Pineapple Express. I was wondering where that term came from.
:D
a movie
http://cannacentral.com/strains/pineapple-express/
You got it!
Best place to get stock is in Canadia. Ontario. Highgrade-seeds. Look 'em up. All proprietary stuff in a mix. Quiet, cash, reliable. You won't be disappointed.
:D
its the papayas; they were jealous and wanted the pineapples to fall into the sea!
Probalbly not the pineapple lobby.
I hear the Pineapple Board are bringing suit against the Amalgamated Union of Meteorologists for misappropriation and slander. They are demanding the "Pineapple Express" be renamed after another fruit. Or simply, given a number, like how is done with highways.
Yeah, it's kind of an uppity buzz anyway.
Here in the high desert we had an early frost that destroyed the fruit blossoms for this year. Obviously a federal grant is needed. BTW: this happens three out of four years.
New Mexico, Arizona? What kind of fruit blossoms?
And anyway, it's called a late frost, not an early frost, when it kills off the blossoms.
Think you got a bidness plan, there, pardner. Just be sure to point out how green the shoots used to be.
My neighbors roof leaked from a heavy downpour. I helped him clean up. We are both applying for federal aid and an Obamaphone
My neigbor works from home and had no power for 9 days. FEMA is paying him $900.
I work from home, had no power for 11 days, I don't have the balls to ask FEMA for dough. I could probably get it if I filled out the paperwork.
Please take the money ... all monies extracted from the US government by ZH'ers is money well spent
Get ya some Obamaphones regardless.
Every time I think about applying for any freebies from Uncle Sugar, I remind myself that they are hardly free, but rather, a mechanism to foster dependency while giving them a future choke-point of control.
So I do without, or fund it myself.
I hear ya but you guys are a dying breed.
Since when is it the federal government's responsibility or duty to cover all uninsured losses?
Since Obama has to pay off his debts!
Couldn't agree more!!! It is not theirs to give!!!
http://www.silverbearcafe.com/private/12.10/notyours.html
Thanks for that link!
Hey Merc - The Feds bailed out the bankrupt banks....so why not home losses?
Why do you hate freedom?