Dem Leaders: FEMA Funding Sufficient for Hurricane Coverage

According to Democratic Party leaders, FEMA has enough money for the Hurricane Sandy recovery, thanks to the fact that the fiscal year started October 1, 2012. There was over $1 billion left over in the Disaster Relief Fund already; Congress appropriated $7.1 billion for fiscal year 2013. Local officials have access to those FEMA funds.

The question is how long that will last. “This is not going to be a short-term situation,” explained New York Gov. Andrew Cuomo (D). “This is going to be a long-term recovery and reconstruction effort, and that’s how we’re going to have to think about it.” Cuomo says that the federal government will end up covering the “overwhelming majority” of costs in New York.

Last year, Democrats refused to offset emergency spending with cuts elsewhere during Hurricane Irene.


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The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine.

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