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The day before yesterday Congress passed on a voice vote to allow FEMA to "borrow" money directly from the Treasury to pay for flood insurance claims. Which means that the taxpayer directly subsidizes flood insurance no matter who or where the taxpayer is. So, an Eskimo that has no flood insurance but pays income taxes is paying to rebuild buildings in New Orleans. This technique allows the federal government to funnel taxpayers dollars from the Treasury to FEMA then to people that have flood insurance. Off the books. And that means that the Fedral Flood Insurance Program which sells all the flood insurance in America (commerical insures won't, it's a mega loser) isn't and never has been financially sound. IE: The premiums for flood insurance for properties in New Orleans are artificially low so that flood insurance is affordable and people are able to get loans to build in a hole surrounded by water.

Besides the subsidized flood insurance FEMA will also come in to New Orleans and offer loans at very low interest rates. And the loans are for just about anything the applicant can conjure up. Even SBA loans. All, of course, 100% backed by the american taxpayer. In the event of default who gets the bill? all of us.

$200 Billion? That's a low number gang. I've seen all of the things above first hand after floods in Houston. But on a small scale. On the scale of disaster (man made) in New Orleans it will be HILARIOUS to watch the crooks there fleece us, the American taxpayer. George Bush has given a blank check to a place that has the most crooks in the country. You will have the Herman K. Bebe types coming out of the woodwork in Louisiana to grab as much cash as they can.

Watch carefully as the mayor of New Orleans and other Democrats literally beg people to come back to New Orleans so they can get warm bodies to come in and take all this sweet sweet sweet federal cash George Bush is giving away.

SUCKERS!