The world’s second-largest reinsurer, Swiss Re, reports “that natural catastrophes and man-made disasters cost the insurance industry $77 billion in 2012.” The report noted this figure covered “more than 300 catastrophes and disasters caus[ing] the loss of 14,000 lives and $186 billion.” These disasters included many of the 112 events …
Amid a slew of resignations from the Obama Administration, Janet Napolitano recently announced that she will be remaining in her post as Secretary of the Department of Homeland Security (DHS) for President Obama’s second term. The news shouldn’t have come as a surprise to many, as Napolitano had long been …
The U.S. House returns Tuesday to consider the latest installment of Hurricane Sandy disaster aid. The $17 billion base bill (H.R. 152) could grow by an extra $33 billion of pork-laden spending — without offsets. Heritage’s Patrick Louis Knudsen outlined what’s at stake with the spending package this morning. The Senate’s version of the …
A California town spent tens of thousands of dollars in taxpayer funds on miscellaneous office expenses and is attempting to bill the federal government for the costs, according to a federal watchdog’s report. In the wake of a damaging flood, the town of San Anselmo spent taxpayer funds ostensibly marked …
Leaders from New Jersey and New York blew up yesterday after House Speaker John Boehner (R-OH) postponed a vote on an aid package related to Hurricane Sandy. But the bill is so loaded with pork projects that these officials should consider directing their anger at the Obama Administration, which is …
According to the Financial Times, the insurance industry estimates the total bill for insurers from Hurricane Sandy will be between $20 billion and $25 billion. President Barack Obama’s emergency request for Hurricane Sandy totals $60.4 billion. One must naturally wonder how the damages not covered by insurance could be roughly …
Federal watchdogs warn in a new report that a pilot Federal Emergency Management Agency (FEMA) program designed to keep Hurricane Sandy victims in their homes may be highly susceptible to waste, fraud, and abuse. The administration of FEMA’s Sheltering and Temporary Essential Power (STEP) program “requires increased vigilance to monitor the expenditure of public funds,” …
Many Americans will find it difficult to return to their daily routines today. The massacre at a Connecticut elementary school Friday, in which 26 people were murdered in an act of senseless violence, including 20 small children, has left the country shocked. The Heritage Foundation expresses its condolences to the …
Last week, President Obama issued a request for $60.4 billion for Hurricane Sandy response and recovery. Yet as the fiscal cliff continues to loom nearby, many on Capitol Hill are asking exactly where that money would come from. While House Speaker John Boehner (R–OH) has indicated that he is still …
