The Morganza Spillway: Denying the river

2 thoughts on “The Morganza Spillway: Denying the river”

  1. The levees are only the first line of defense. The federal government provides tax payer subsidized flood insurance. Back when you could actually buy flood insurance on the open market, it became so expensive that it made building in flood plains prohibitively expensive.

    People who live on mountain tops and in deserts pay to rebuild homes and businesses built in flood plains. The result is commonly called mal-investment – inspired by an artificial value system. Like the FDIC, Fannie Mae, Freddie Mac and the FED – it’s a pre-disaster no-fault bailout system.

    1. I don’t begrudge some government funds to the farmers, because they are farming the richest soil in the country in order to feed the rest of us. But anyone else who knowingly builds or rebuilds in a floodplain should be willing to assume the risk themselves (flooding, no flood insurance). As for other people paying for it, we pay either way — either with taxes to the government or through our own insurance premiums, which are calculated to cover everyone in the pool.

... and that's my two cents