Hurricane damages and the national debt

Lee DeCovnick
The headline from philly.com boldly proclaimed, "Christie pegs New Jersey's Sandy damage at $29.4 billion."  The article went on to explain: Gov. Christie estimates that Sandy cost New Jersey $29.4 billion in damage and economic losses, from washed-out roadways and waterlogged homes to manning storm shelters. "This preliminary number is based on the best available data, field observations, and geographical mapping," Christie said in a statement released Friday evening. "I will spare no effort and waste no time to rebuild and restore our tourism industry, our transportation and utilities infrastructure, and the lives of our citizens for the long term." $29.4 billion is a supertanker load of money, especially when we consider the amount of damage Sandy caused in the space of just a couple of few days. But fear not, Governor, that much money is just a drop in a fifty-five gallon drum when it comes to Federal spending. Let's look at the rampaging increases in our national...(Read Full Post)

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