Katrina: Do you favor a federal insurance bailout?

Baketech · 09-15-2005, 7:24 PM

With the massive looming issue of uninsured/underinsured property owners affected by Katrina, the question is this:

As a U.S. taxpayer, do you favor a federal insurance bailout?

aussie_929 · 09-15-2005, 7:28 PM

That's a tough question because you can see both sides of the argument.

1) Residents should understand about where they live i.e. coastal city prone to flooding. Should they have been prepared?

2) The government cut funding for protecting the city so should they be responsible as well?

It's a hard one for sure.

nedro · 09-15-2005, 7:30 PM

Hell NO!
Up here in Northern California, not only does the Fed Gov not help us do the Bay Bridge Earthquake Retrofit, Our own state won't help us. We will pay for all of it our selves! Keep in mind that No Cal has had only two, "Big Ones in a hundred years.
These Jackasses get huricanes more than once A YEAR!!! Screw those idiots that live there.

phobiaphobe · 09-15-2005, 7:31 PM

Not a US taxpayer, so I didn't vote, but if I were, I would be vehemently opposed. Those that wish to help can do so of their own free will.

sheepofblue · 09-15-2005, 7:32 PM

Quote:

Originally Posted by aussie_929

That's a tough question because you can see both sides of the argument.

1) Residents should understand about where they live i.e. coastal city prone to flooding. Should they have been prepared?

2) The government cut funding for protecting the city so should they be responsible as well?

It's a hard one for sure.

#2 the city should fund its own protection.

aussie_929 · 09-15-2005, 7:41 PM

Quote:

Originally Posted by sheepofblue

#2 the city should fund its own protection.

The federal government does have responsiblity for funding in some areas though.

aussie_929 · 09-15-2005, 7:41 PM

Jeesh you guys are harsh.

phobiaphobe · 09-15-2005, 7:43 PM

I'm not harsh, I just love freedom.

*Mo Noyz* · 09-15-2005, 7:54 PM

Quote:

Originally Posted by aussie_929

The federal government does have responsiblity for funding in some areas though.

How much money has the federal government given the state of Louisiana for levee repairs over the last 25 years?

Eh, nevermind.....

What is your opinion about this:

"The unveiling of the Mardi Gras Fountain was celebrated this year in typical New Orleans style. The cost of $2.4 million was paid by the Orleans Levee Board, the state agency whose main job is to protect the levees surrounding New Orleans — the same levees that failed after Katrina hit."

http://www.msnbc.msn.com/id/9342186/

Or how about the projects the Levee Board has planned:

http://www.orleanslevee.com/Bids%20a...ngineering.htm

I guess Nagins mama never told him that when you point your finger at someone there's always three pointing back at you.

aussie_929 · 09-15-2005, 7:54 PM

Quote:

Originally Posted by phobiaphobe

I'm not harsh, I just love freedom.

huh?? That doesnt even make sense in the context of this discussion.

aussie_929 · 09-15-2005, 8:04 PM

Quote:

Originally Posted by Mo Noyz

How much money has the federal government given the state of Louisiana for levee repairs over the last 25 years?

Eh, nevermind.....

What is your opinion about this:

"The unveiling of the Mardi Gras Fountain was celebrated this year in typical New Orleans style. The cost of $2.4 million was paid by the Orleans Levee Board, the state agency whose main job is to protect the levees surrounding New Orleans — the same levees that failed after Katrina hit."

http://www.msnbc.msn.com/id/9342186/

Or how about the projects the Levee Board has planned:

http://www.orleanslevee.com/Bids%20a...ngineering.htm

I guess Nagins mama never told him that when you point your finger at someone there's always three pointing back at you.

I was making a general statement i.e. funding for roads etc.

sheepofblue · 09-15-2005, 8:04 PM

Quote:

Originally Posted by aussie_929

The federal government does have responsiblity for funding in some areas though.

Yes but limited. The federal government far exceeded its responsibility and the support was squandered. Also if you lived in an unsafe area and the government or state did not meet your safety needs would you not do so yourself?

aussie_929 · 09-15-2005, 8:06 PM

Quote:

Originally Posted by sheepofblue

Yes but limited. The federal government far exceeded its responsibility and the support was squandered. Also if you lived in an unsafe area and the government or state did not meet your safety needs would you not do so yourself?

Yes i would hence 1)

phobiaphobe · 09-15-2005, 8:06 PM

Quote:

Originally Posted by aussie_929

huh?? That doesnt even make sense in the context of this discussion.

Yes it does. In an absolutely free society, the government wouldn't take money from me (taxes) and decide who/what/where to spend it. I would prefer the freedom to choose how to spend my own money.

aussie_929 · 09-15-2005, 8:08 PM

Quote:

Originally Posted by phobiaphobe

Yes it does. In an absolutely free society, the government wouldn't take money from me (taxes) and decide who/what/where to spend it. I would prefer the freedom to choose how to spend my own money.

Well I'd love to live in a place like that but that it not reality, is it? I pay 42% income tax so I certainly know what you mean.

luvtolean · 09-15-2005, 8:11 PM

Hmmm....I have to say, when I was reading about Katrina and the extent of financial (mortgage) losses today, along with creditors extending loans, I wondered to myself, "Is this the real bubble burst"?

I wonder if those saying "HELL NO" have truly thought through the possible consequences of this disaster on the economy.

Hammer · 09-15-2005, 8:13 PM

Quote:

Originally Posted by nedro

Hell NO!
These Jackasses get huricanes more than once A YEAR!!! Screw those idiots that live there.

Now I can say to my dad who lives in Louisiana "Nedro" said you were a jackass. He'll be pleased to here that you have such respect for a man that has served his country in Vietnam, holds down a full time job as a prison guard, works his days off running a roofing company and taking care of my mother who has MS. Some people are stuck down there not by there choosing. My dad's situation: he cannot quit his job and move up here to Indiana with us because he would not be able to get insurance anywhere else he went to work due to my mother's condition. So not all people are as fortunate as others to roam around the continent just to see the country side and find the perfect place to live.

As far as my opinion of the feds doing another bail out, i'm against it as well.People should prepare for the worst and hope for the best. The folks know and have known for many years that NO is below sea level and should prepare for the "what if" scenario. I believe the government bails out too many situations now and will probably continue to do so. I'm watching the Delta and Northwest bankruptcy thing going on now and I think the taxpayers will end up paying out for that as well. I do not believe the taxes are being appropriated as they need to be, but what can you do?

aussie_929 · 09-15-2005, 8:14 PM

Quote:

Originally Posted by luvtolean

Hmmm....I have to say, when I was reading about Katrina and the extent of financial losses today, along with creditors extending loans, I wondered to myself, "Is this the real bubble burst"?

I wonder if those saying HELL NO have truly thought through the consequences of this disaster on the economy.

This also has effects all over the world. Petrol is at an all time high in Australia. $1.48AUS per litre. With 4 litres in a gallon, you do the math....

A lot of other countries in Europe have it much worse.

luvtolean · 09-15-2005, 8:16 PM

Quote:

Originally Posted by aussie_929

This also has effects all over the world. Petrol is at an all time high in Australia. $1.48AUS per litre. With 4 litres in a gallon, you do the math....

A lot of other countries in Europe have it much worse.

You guys pay more due to taxation.

And while I do care about the rest of the world, I don't in relation to how the government should handle property losses in NOLA. That is your problem.

aussie_929 · 09-15-2005, 8:17 PM

Quote:

Originally Posted by luvtolean

You guys pay more due to taxation.

And while I do care about the rest of the world, I don't in relation to how the government should handle property losses in NOLA. That is your problem.

No, my point is that it has gone up very recently due to NO. Your point on how it effects the economy.

luvtolean · 09-15-2005, 8:17 PM

Quote:

Originally Posted by Hammer

I'm watching the Delta and Northwest bankruptcy thing going on now and I think the taxpayers will end up paying out for that as well. I do not believe the taxes are being appropriated as they need to be, but what can you do?

Yes, and as long as oil prices are so high, this won't be near the end. The only airlines that are profitable at these fuel costs are the ones operating under contracts limiting their fuel prices.

luvtolean · 09-15-2005, 8:18 PM

Quote:

Originally Posted by aussie_929

No, my point is that it has gone up very recently due to NO. Your point on how it effects the economy.

Fair enough.

phobiaphobe · 09-15-2005, 8:21 PM

Quote:

Originally Posted by aussie_929

Well I'd love to live in a place like that but that it not reality, is it? I pay 42% income tax so I certainly know what you mean.

You give 42% of your money to your government to piss away as they please. I'll bet you'd rather give them 10% and decide for yourself who to support with your money.