Katrina: where did the money go?

[hard@work]

Katrina: Where did the money go?
By GEOFF PENDER
The (Biloxi) Sun-Herald



It's hard for the average working stiff to contemplate a number as vast as the $23.5 billion the federal government has allocated to Mississippi for Katrina recovery.

Think of it this way:

It's enough money to buy two average-sized houses for each of the 65,000 families in Mississippi who lost their homes.

And, there would be enough left over to buy each family a brand-new Honda Accord to drive between their two $166,000 houses. That's the EX-L, V-6 four-door sedan Accord, with all the extras and navigation, not a base model.

It's enough to give each man, woman and child in the three southernmost counties $68,500 apiece. Or, to look at it another way, federal Katrina spending in Mississippi will cost each person in the United States about $94.

Just the $1 billion the U.S. Government Accountability Office estimates FEMA lost to "fraud, waste and abuse" within a short time after the storm would be enough to cover the city of Waveland's budget for 143 years, or buy more than 6,000 new houses ...


rest of the article here:

http://www.kansascity.com/440/story/252364.html

 

[BillyDkid]

Katrina: Where did the money go?
By GEOFF PENDER
The (Biloxi) Sun-Herald



It's hard for the average working stiff to contemplate a number as vast as the $23.5 billion the federal government has allocated to Mississippi for Katrina recovery.

Think of it this way:

It's enough money to buy two average-sized houses for each of the 65,000 families in Mississippi who lost their homes.

And, there would be enough left over to buy each family a brand-new Honda Accord to drive between their two $166,000 houses. That's the EX-L, V-6 four-door sedan Accord, with all the extras and navigation, not a base model.

It's enough to give each man, woman and child in the three southernmost counties $68,500 apiece. Or, to look at it another way, federal Katrina spending in Mississippi will cost each person in the United States about $94.

Just the $1 billion the U.S. Government Accountability Office estimates FEMA lost to "fraud, waste and abuse" within a short time after the storm would be enough to cover the city of Waveland's budget for 143 years, or buy more than 6,000 new houses ...


rest of the article here:

http://www.kansascity.com/440/story/252364.html

It's all very disgusting isn't it. Imagine all the good that money would do if it were left in the pockets of the people who earned it.

 

[hard@work]

It's a good reference source for those who have been fooled into thinking we need the government to protect us.

 

[Tn...Andy]

You don't understand the how Federal Reserve works, and what passes for money. You're not alone.....most of Congress doesn't either.

Events like this are welcomed by the FED.....the volume of money must constantly expand or the house of cards collapses ( it will anyway, as we approach infinity in the money supply ).

Since all our "money" is based on debt, more NEW MONEY must constantly be created to pay back the principal with interest.....or the deal collapses in deflation.....which is the REAL boogie man in the closet at the FED.

As we approach infinity, the volume of money must be created faster and faster.....so any "crisis" is the perfect vehicle to create more...doesn't make a flip what they do with it or how they mis-spend it......short of literally "throwing it out a helicopter door" like Bernake joked, which would simply reveal to the public what a JOKE the money is, they have to take advantage of every opportunity to expand the supply.....by more debt. That can be personal or govt....it makes no difference.


Hence, what you see as "waste" is merely a component of the plan. They couldn't cut it out if they wanted to.