Bush Approves $51.8B for Hurricane Relief

[adios]

Actually congress has appropriated $62 billion in aid total as the article points out. $62 billion divided by 1,000,000 people in the area is $62,000 a person. Is this right? Let's see $62 billion is 62 x 10**9 and for a million people that's 10**6 so we come up with 62 x 10**3. Yep it's $62,000 a person in aid for New Orleans. I read an article yesterday in the WSJ where the more affluent citizens of New Orleans are kicking back; drinking high balls and such; hiring private security firms for protection of the neighborhoods they live in; and using private helicopters and planes to fly in and out of New Orleans. I don't think these folks are going to get too much of that $62 billion. I'm also reading various reports that the demographics of New Orleans have changed in that it may become more right leaning politically as many of the less affluent citizens will not return to the rebuilt city. Also my impression is that they're passing out those $2,000 debit cards like candy. No screaming about budget busting from the left from what I can tell. A big Wall Street firm came out and raised the price target of Altria (formerly Phillip Morris) yesterday. Some traders talk is that cigarette and booze sales are going to climb significantly since so much money is being passed out to the less affluent. If this comes to pass, there will also be a big boost in "sin tax" revenue flowing to government. I can't believe that the cost of having the levees beefed up would have been anywhere close to $62 billion. In the article I posted from the Washington Post yesterday the government debate was about quibbling over a few million dollars for Louisianna. Now the Congress overwhelmingly passes $62 billion spending bills which the president signs without hesitation. Another example of our government in action. Let's argue and posture about a few million dollars when votes aren't directly on the line but when votes are on the line we can pony up literally billions and billions of dollars.
Bush Approves $51.8B for Hurricane Relie

[FishHooks]

I believe the number is closer to 63.5B in total aid for the gov't. That seems like a ton of money and I bet much of it will be wasted, but what do you expect its the federal govt, and it doesn't matter who's in charge.

[adios]

I agree with you, it doesn't matter who is in charge. It will be higher than the figure you stated most likely if we start factoring in indirect costs. For instance the airlines are lobbying to "temporarily" rescind the taxes on jet fuel due to the effects Kartrina is having on energy prices. They'd have been better off buying each household in New Orleans a brand new car to get out of town with than pony up this kind of money. So I've got it right now buy tobacco related stocks, buy booze related stocks, buy building commodity stocks (for the rebuilding), buy airline stocks, and hold energy stocks.

[Cyrus]

Shouldn't we be leaving those people to their own devices? Shouldn't the free market, totally unfettered, decide their fate?

We can't be for less government and then asking for hand-uts, when the levee breaks.

[img]/images/graemlins/cool.gif[/img]

[FishHooks]

I think people are taking this "free market" thing too far. We are allready in a system of taxes so why would we just give up now and let all the taxpers suffer even more with out any help. I dont agree with this 60+ Billion Dollar relief plan at all but just this "free market" idea is unrealistic given the times we live in. I'm a "free market" republican but there is a line, you can't go back to the industrial age where there was no govt regulation or intervention. While it seems GREAT, you have to have an some oversight, because you can't just drop everything now.

I'm all for a free market, but not for a chaotic nation, and an unrealistic idea. I still would love to reduce govt a lot, I would say over 50%, but to have NO govt intervention would be crazy, minimal would be optimal.

[MtSmalls]

The biggest fallact in the $62K per person argument is that the money isn't going to go to individuals directly. I haven't read the bill, but along with personal disaster relief, I am sure that a significant portion of that budget is going to rebuild roads, schools, police stations, fire stations etc. The things government is supposed to pay for out of our tax dollars.

Is there going to be fraud and waste? Sure, I suppose there will be. Look at the 9/11 relief. Of the $5 billion in government aid dished out 11% of it went to NY businesses and people. Some of the benficiaries? Country radio station KBFS in Belle Fouche South Dakota and the Little Dogs Resort and Salon in Utah.

[TransientR]

[ QUOTE ]
Actually congress has appropriated $62 billion in aid total as the article points out. $62 billion divided by 1,000,000 people in the area is $62,000 a person. Is this right? Let's see $62 billion is 62 x 10**9 and for a million people that's 10**6 so we come up with 62 x 10**3. Yep it's $62,000 a person in aid for New Orleans. I read an article yesterday in the WSJ where the more affluent citizens of New Orleans are kicking back; drinking high balls and such; hiring private security firms for protection of the neighborhoods they live in; and using private helicopters and planes to fly in and out of New Orleans. I don't think these folks are going to get too much of that $62 billion. I'm also reading various reports that the demographics of New Orleans have changed in that it may become more right leaning politically as many of the less affluent citizens will not return to the rebuilt city. Also my impression is that they're passing out those $2,000 debit cards like candy. No screaming about budget busting from the left from what I can tell. A big Wall Street firm came out and raised the price target of Altria (formerly Phillip Morris) yesterday. Some traders talk is that cigarette and booze sales are going to climb significantly since so much money is being passed out to the less affluent. If this comes to pass, there will also be a big boost in "sin tax" revenue flowing to government. I can't believe that the cost of having the levees beefed up would have been anywhere close to $62 billion. In the article I posted from the Washington Post yesterday the government debate was about quibbling over a few million dollars for Louisianna. Now the Congress overwhelmingly passes $62 billion spending bills which the president signs without hesitation. Another example of our government in action. Let's argue and posture about a few million dollars when votes aren't directly on the line but when votes are on the line we can pony up literally billions and billions of dollars.
Bush Approves $51.8B for Hurricane Relie

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I think your forgetting the devastation in Mississipi, Alabama, and the rest of Louisiana. Also, as has been pointed out, a lot of the money is going to go toward clearing debris, rebuilding infrastructure etc., not cutting a hefty check for each displaced person.

Frank

[tylerdurden]

[ QUOTE ]
Shouldn't we be leaving those people to their own devices? Shouldn't the free market, totally unfettered, decide their fate?

We can't be for less government and then asking for hand-uts, when the levee breaks.

[img]/images/graemlins/cool.gif[/img]

[/ QUOTE ]

You've already stolen the taxes from the populace, a large portion of which was to be allocated for preventing and responding to these types of disasters, now you want to withhold the response portion of that after squandering the prevention portion?

[jokerthief]

FEMA gives up to 250K to individuals to rebuild houses that are destroyed by natural disasters.

[tek]

[ QUOTE ]
[ QUOTE ]
Shouldn't we be leaving those people to their own devices? Shouldn't the free market, totally unfettered, decide their fate?

We can't be for less government and then asking for hand-uts, when the levee breaks.

[img]/images/graemlins/cool.gif[/img]

[/ QUOTE ]

You've already stolen the taxes from the populace, a large portion of which was to be allocated for preventing and responding to these types of disasters, now you want to withhold the response portion of that after squandering the prevention portion?

[/ QUOTE ]

Perhaps the surivors of the hurricane could be brought back to help clean up the debris. They have nothing else to do except sit around and collect handouts (both pre and post hurricane...), smoke drink and watch daytime tv on their stolen tv's.