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Democrat Congressman Wants a $12 Billion Bailout for Sandy’s Victims

Written by Gary North on November 1, 2012

We all feel sorry for Sandy’s victims. But we don’t feel sorry enough to donate $12 billion to relief efforts.

So, a Congressman wants to act on behalf of the victims by borrowing the money to bail them out.

With an on-budget deficit of $1 trillion a year, and an off-budget deficit of $11 trillion in present value, he wants more. Congress sees this as a never-growing mountain of debt that will never have to be repaid.

They see the credit markets as America’s Big Rock Candy Mountain.

(CNSNews.Representative Chaka Fattah (D-Penn.) is planning to introduce a bill to provide an additional $12 billion in funding to FEMA to help the agency deal with the aftermath of Hurricane Sandy. Fattah says the money should be provided without any offsets, meaning that the government will have to add the total to its already $16-trillion-plus debt.

Fattah plans to introduce the bill when the House of Representatives convenes for a pro-forma session on Friday, although it is not clear he will have a chance to do so because such pro-forma sessions typically last only mere minutes.

Regardless, Rep. Fattah said that the money should not have to be offset by spending cuts or new revenue, adding that the government has always provided emergency funding for natural disasters.

“The American people deserve, and insist on, the kind of first-rate recovery response that FEMA can provide,” Fattah said in a statement. “But we cannot do it on the cheap. Congress must step up and provide the federal resources this emergency requires.” . . .

“We have always provided necessary funding for emergencies without cutting the budget elsewhere, and the pay-go rules of the House provide for these exceptions. Clearly, with major population and commercial centers along the East Coast and in the Midwest hobbled, this is such an emergency,” Fattah said.

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6 thoughts on “Democrat Congressman Wants a $12 Billion Bailout for Sandy’s Victims

  1. delmar Jackson says:

    DR NORTH
    Why isn't anyone reporting this amazingly important story?

    Hurricane Sandy removes poem from Statue of Immigration
    https://www.youtube.com/watch?v=NrW5JT0QCO4&f

  2. Denied…..

  3. I believe people have insurance (or at least they should have had insurance). Isn't this exactly what insurance is for? Why is everyone else always required to pick up the tab? I'm in one of the states that was hard hit, but I don't understand why I have to spend my money to fix other's damage. I pay for insurance… States SHOULD have money set aside for disasters in order to rebuild, and the money coming from the federal government should be very limited. Then we have all the charities asking for more money from us because they are needed to go in and help people. We all have limited funds!

  4. We have become a nation of takers….only problem is there aren't enough givers left to cover all the grabbers.

  5. Well, let's see now. A 12 billon "loan." The hurricane victims (might ?) see 1 million, if their lucky. This is the same as pouring money into another Solyndra. A shameful waste of taxpayer money with NO accountability.

  6. If I was in a "hurricane alley" and knew it, why should others have to foot the bill and put me up a NEW BUSINESS or HOME every 3-10 years? I knew the risks of my having a beautiful Ocean front home or business. Altho I can't get insurance except from a government business, I was willing to take my chances and have what everybody would love to have, Ocean Front Property, a beautiful home within site of the beach and a thriving business that rakes in millions of dollars every year thru tourist season. IT IS GREAT!!!! till a hurricaine wipes me out. Now the American People should have compassion on me and give me the money to rebuild so I can overprice my goods to them again and get me another new house. You may burn me once and maybe twice and get money to rebuild but if I let you burn me the third time its my fault for not standing you down.