Natural Disasters - An Expensive Business for the Federal Government
Monday, August 29, 2011 at 3:24PM
As a South Mississippi native, I am all too familiar with destruction and devastation from natural disasters. August 29, 2011, marks the six-year anniversary of Hurricane Katrina, one of the worst natural disasters ever to strike the United States. While working for Congressman Gene Taylor (MS-4), we assisted families on a daily basis who were struggling to recover from the storm.
Thousands of families who lost everything were forced to turn to the federal government for financial support and many times moral support as their insurance companies denied their claims. For years after the storm, the federal government provided much needed aid to these individuals, who had few alternatives. Since Katrina, the rising cost of homeowners insurance and lack of private insurance options points to a troubling trend - when private insurance is inadequate, property owners must turn to the federal government for assistance.
The six-year anniversary of Katrina comes in the wake of Hurricane Irene and a 5.9-magnitude earthquake, both hitting the East Coast in the same week. Earlier this year, there were deadly tornadoes that flattened towns in Missouri, Mississippi, Alabama and other states.
In the wake of these natural disasters, thousands of individuals are facing a costly uphill climb as they rebuild homes and businesses and work to resume normal lives. Unfortunately, private insurance companies cover only a fraction of the damage. The federal government will again open its wallet to provide aid and assistance. Some politicians in Washington are complaining that federal dollars are already scarce and the government can't continue to bail out disaster victims. It just costs too much. But others say there is nowhere else to turn.