NFIP should be abolished entirely. If people want to build in flood plains, fine. But there’s no reason the American taxpayer should be on the hook for it.
“NFIP should be abolished entirely. If people want to build in flood plains, fine. But there’s no reason the American taxpayer should be on the hook for it.”
If it is indeed an insurance policy, irrespective of who runs it, it should pay out per the policy’s prescribed limits. I suspect though, that with the government involved, it isn’t really a true “insurance policy” and whatever “premiums” the government has collected have already been spent on some politicians wet dream. Again, this is an area where the government should butt out. And I agree with you, there just isn’t any way the taxpayers should pay for someone’s losses here. Then again, I feel the same way about Katrina and New Orleans. If people want to live in a toilet bowl, they have to expect to get flushed down the drain occasionally.