250 billion dollar wishlist


Louisiana politics are back in style
Now the other shoe has dropped.

Literally hours before Hurricane Rita hit, Louisiana politicians gave the Federal government a huge wish list.

Not only do the LA politicos want the FedGov to pick up the entire bill on Hurricane Katrina, they want the US taxpayer to pick up the dry cleaning and the dinner tab too.

Credit card bills? Mortgage payments?

Where does it stop?

Remember, this is the same political class from Louisiana that mishandled or diverted billions of dollars in Congressionally approved flood control funds over the last few decades.

This is entitlement thinking that goes back at least to the days of Huey Long.

This is the direct result of promising that the government (any government) will take care of you.

This is the direct result of populist politics.

This is the direct result of income redistribution.

This is the direct result of class envy.

Most importantly. this is the direct result of a dependent people who have been taught to ignore their own best interests.

Economics is really human behavior. When you are thinking of buying something, you are judging the cost and the risk against the benefits. There are other factors too, like the time necessary to the benefits, but let's stick to these three.

As long as the cost and the risk are less than the benefit, people will buy.

Cheap land in a flood plane is offset by the cost of continual rebuilding or high insurance. This makes land that is constantly flooded very unattractive.

Unless of course a third party promises at no cost to you to pay for any repairs that may be needed.

The cost and the risk has gone down, which means that the land becomes more desirable.

As long as that third party is paying for the insurance, why not stick them with the electrical and sewer bills too? And there ought to be a way to get them to pay for the property taxes...

That is what I think has happened here.

After decades of living the high life while not having to pay the bills, the political class of Louisiana has no idea of the word restraint. Or responsibility. Or accountability. And of course, their failings aren't their fault, they are yours for not giving them enough.

Granted, Mr. Bush didn't help matters along with his promises.

Even so, the more I dig into it, the more convinced I am that New Orleans problems were caused mainly by a local political class out to milk the system for everything they could and a Federal government that spends way too much money while doing very little well.

— NeoWayland

Posted: Sat - September 24, 2005 at 05:03 AM  Tag


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