After $130 Billion Of Disaster Aid---It's Time To Reform Flood Insurance

The Congressional Budget Office projects the program will continue to run an average annual structural deficit of $1.4 billion, evident in the fact that it has had to borrow in excess of $40 billion from U.S. taxpayers in recent years. Congress was presented with the perfect opportunity to address these fundamental issues when it passed a $36.5 billion disaster aid package in October. Instead, lawmakers included a provision in that bill forgiving $16 billion of the NFIP's debt, without demanding any reforms at all.

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.