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Our backbone

May 18, 2014

Offer us an ultimatum instead of ordering something done against our will and ability....

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(2)

Nobody

May-18-14 9:27 AM

Excellent post CaveFelem, and I agree with you.

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CaveFelem

May-18-14 7:26 AM

Mr. Cohick, the government (read the taxpayer) has been subsidizing flood insurance rates since the Johnson administration.

The Biggert Waters act attempted to put the onus back on the property owner who lived in a flood prone area, although it worked out pretty badly because I suspect not many people knew their insurance rates were being so heavily subsidized.

It's too bad this program was put into place and lasted as long as it did. Now we have perhaps millions of people dependent on subsidized flood insurance rates who may have to walk away from their homes and businesses or not carry insurance at all.

Hopefully the government can fix this. Update the flood maps, and start increasing rates gradually over the next 10 years or so. Get more insurance companies involved.

One thing is clear - something has to be done, and it's not fair to the taxpayer for this to continue as is.

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