Barack Obama actually said...
Down in New Orleans, where they still have not rebuilt 20 months later, there is a law, federal law, when you reconstruction from the money government called the Stafford Act. And, basically, it says, when you get federal money, you got to give a 10 percent match. The local government's got to come up with 10 percent.
Context
Obama discusses the disparity in federal aid for Hurricane Katrina compared to other disasters, highlighting perceived neglect of New Orleans.
10/01/2012