Should We Keep Paying to Rebuild the Coasts?
Posted at 11:45 a.m. on Nov. 20, 2012
As hurricanes become more extreme and inflict greater damage on US coastal areas, the New York Times looks at the cost to government of rebuilding.
“Lately, scientists, budget-conscious lawmakers and advocacy groups across the political spectrum have argued that these subsidies waste money, put lives at risk and make no sense in an era of changing climate and rising seas.”
“Earlier this year, Congress passed changes to the federal flood insurance program that are supposed to raise historically low premiums and reduce homeowner incentives for rebuilding in the most hazardous areas… At times, local governments have tried to use the money to reduce their vulnerability to future disasters, but they complain that they often run into bureaucratic roadblocks with the Federal Emergency Management Agency.”