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Wednesday, March 5, 2014

Politics Trumps Good Policy

Congress just voted to continue subsidizing morons who choose to build in flood plains:

The House of Representatives, in a bipartisan vote of 306-91 Tuesday night, agreed to limit premium rate increases under the National Flood Insurance Program.

The bill must still pass the Senate or be reconciled with a version of flood insurance legislation that the chamber approved in January.

If the House version becomes law, with President Barack Obama’s signature, the measure would eliminate some of the changes made in a 2012 law that required the Federal Emergency Management Agency to raise rates to reflect flood risk. The law was intended to reduce losses to the insurance program, which is $24 billion in debt.

Conservative, libertarian, environmental and taxpayer watchdog groups opposed the bill, arguing that rates should be based on risk. Some said subsidies should be targeted only to people who couldn’t afford higher rates.

Rep. Jeb Hensarling, R-Texas, said during the debate that he would oppose the bill because the flood insurance program was “one reason America is going broke.”

“It forces 96 percent of Americans to subsidize the remaining 4 percent, regardless of income or need,” Hensarling said.
You know, when Jeb F%$#ing Hensarling is one of the smarter people in the room, you are at a level of stupid that buggers the mind.

Of course, if I were in Congress, I would tell Mr. Hensarling that  the additional costs for the insurance program are a direct result of anthropogenic climate change, just to f%$# with him.

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