Taxpayer Rip-off in New Orleans

As much as one doesn’t want to pick on the citizens of the Gulf Coast region, one might think that taxpayers and residents of the area would agree that we don’t want something like Katrina to ever happen again. Unfortunately, it looks like that is what federal taxpayers are in the midst of paying for — rebuilding in flood-prone areas.
Unfortunately, Congress has proven once again to be an inadequate steward of our taxpayer dollars. So, instead of reforms or, better still, the elimination of the National Flood Insurance Program which ultimately creates these perverse incentives, we’ll have aother Katrina-like storm in the future.

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