The Hurricane that Keeps Spending Our Money
We have another post-Katrina announcement from one of Louisiana’s bevy of incompetent politicians. The Federal Victim’s Insurance Company (aka FEMA) is dumping another $1.8 billion of taxpayer money into the New Orleans school system. Apparently, in the five years since Hurricane Katrina, school children in New Orleans haven’t become any smarter or less dependent on government support. So another $1.8 billion is supposed to change that.
Also, according to the most recent statistics, approximately 20% of New Orleans’ population (100,000 dependents) left after Katrina and never came back. (Source) There are fewer than 400,000 residents now in New Orleans. Who is this $1.8 billion going to educate?
Of course the politicians will say that taxpayer money is being used to rebuild flood-damaged schools. If that is true, we can add “worlds most under-insured city” to New Orleans’ list of unwanted superlatives, along with “most female body parts exposed from public balconies”. We also know that at least 10%-20% of our taxpayer donation will be skimmed off the top to pay corruption tax.
If you want to live in New Orleans, I’m OK with that. After all, people still live in Detroit and I can’t figure that one out either. Just accept your risks, buy some insurance, and don’t ask me to pay for it when things go south. I felt the same way about GM and Chrysler.
Can we please have a statute of limitations on victim expectations?
Here is the full article: New Orleans schools get $1.8 billion for Katrina damage
P.S. If you are reading this from your home in New Orleans or Detroit, feel free to comment but please don’t flame me. Remember, this blog has proudly featured the “hard truth about money and personal finance” from day one. Thick skins are needed all the way around. Grow one. Thanks.