CNN: Tax dollars paying for multimillion-dollar homes

[Beach Runner]

CNN at 1 PM EDT: "Your tax dollars paying to repair multimillion-dollar homes damaged by hurricanes? Coming up in this half hour."

1:05 - "You pay so that others can live in harm's way."

1:15 - "Taxpayers have spent $55 million to keep some people living large in the path of hurricanes. Where's *your* beach house?"

I HAD TO LEAVE TO GO TO A MEETING. IS ANYONE WATCHING THIS?

 

[Kimmifunn]

Ohhh...would love to see a transcript of that...

 

[Beach Runner]

Ohhh...would love to see a transcript of that...

Ditto. We probably will. You know how CNN runs the same story a kajillion times.

 

[Miss Kitty]

Hasn't that been going on for years? I vaguely remember a story about this topic concerning NC beaches a while back. You are right...it will be probably be repeated.

 

[OnMackBayou]

I tried looking on the CNN website but couldn't find anything about this. Maybe they'll run the program again. The only Federal program I know of is in regard to flood insurance. But that only pays claims up to $250,000.00. Not millions. I used to have a friend who bellyached about the bailout that flood insurance provided to people who had no business living near the water.

As it turns out, as of last September, the NFIP was actually a billion dollars in the black, as premiums collected outpaced claims paid. http://www.femainfo.us/flood_frequently_asked_questions.shtml