White House to Ask for $50 Billion in Hurricane Relief Aid
Unless an austerity-minded Congress adds to the president's plan, state leaders would have to figure out other ways to finance tens of billions of dollars of storm-related expenses or do without them. New York, New Jersey and Connecticut were seeking a combined $82 billion in federal help both to clean up and restore damage from Hurricane Sandy as well as to upgrade and harden infrastructure to prepare for future storms.
Supporters of the disaster-relief request are proposing that the money not have to be offset, or paid for through spending cuts elsewhere. The administration request is unlikely to propose a way to pay for the aid and Mr. Reid said he did not believe it should require savings elsewhere, but House Speaker John A. Boehner of Ohio is reserving judgment. If it is not offset, then it would be financed through additional federal debt.
Mr. Borrow wants to engage in more borrowing. Who would have thought?