In response to:

Romney to Obama: “You Pick the Losers”

101AirbrnDiv Wrote: Oct 07, 2012 10:00 PM
The National Flood Insurance Program(NFIP) is administered by the Federal Emergency Management Agency(FEMA). The 2005 hurricane season resulted in claims which the program's annual premium income could not cover. To pay claims, the NFIP borrowed from the U.S. Treasury. Prior to 2005, the NFIP's borrowing authority had been limited by statute to $1.5 billion. Congress made up for the shortfall by increasing the program's borrowing authority three times between September 2005 and January 2007 (from $1.5 billion to $20.8 billion). The NFIP currently owes $17.775 billion to the U.S. Treasury. Thank you Republican-controlled Congress from January, 1995 through January, 2007.
101AirbrnDiv Wrote: Oct 07, 2012 10:01 PM
more from

"Under both current law and this legislation, the NFIP may borrow an additional $3 billion from the Treasury."

"CBO also estimates that the changes made by H.R. 1309 would increase net income to the NFIP by $4.2 billion over the 2012-2021 period."

"H.R. 1309 would impose intergovernmental and private-sector MANDATES, as defined in the Unfunded Mandates Reform Act (UMRA), on public and private mortgage lenders."

Why do I get the feeling that this Republican-controlled Congress will be adept at redistributing wealth from the bottom-up?

Why wasn't this program ABOLISHED?
101AirbrnDiv Wrote: Oct 07, 2012 10:01 PM
Here's the typical Republican/TeaParty response.

Yeah, but not all of the flood insurance money goes to millionaires with million dollar homes.

Oh....Ok, I guess that makes it Ok.

Mitt Romney’s comment about President Obama’s acumen as a public equity investor: “You pick the losers,” has put Obama’s failed green energy emphasis under the microscope, bringing into question: have any been a success? Well, some haven’t failed, yet.

In our last report, Obama Never Admits Green Energy Failure, we profiled 15 companies that each received funds from the American Recovery and Reinvestment Act—the stimulus—and have gone bankrupt. In Wednesday’s debate, Romney listed two of our “bankrupt” list: Solyndra, the best known, and Ener1, now known thanks...