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