Political Quotes

“I come to the Senate floor to discuss another very important issue for our economy, which is the National Flood Insurance Program. The National Flood Insurance Program is a vital Federal program that helps provide flood insurance for properties all across the country. It is absolutely vital to citizens and to our economy, to the real estate market, to closings which cannot happen without this type of insurance in many instances. It is important all across the country. It is nowhere more important than in Louisiana, which, unfortunately, has pretty severe flooding risks. In the last few years, we have extended this necessary and important program but sometimes with real fits and starts and even lapses of the program. As you know, Madam President, in 2010, it got worse than ever. Congress allowed the National Flood Insurance Program to lapse four times--for a total of 53 days--for no good reason. It was not a money issue; it was not a cost issue; it was not a deficit issue because continuation of the program along the current structure does not raise deficit and debt. But we had these deadlines that kept approaching, and we let, in many instances--in four instances--the deadline actually come and the program to lapse--four times in 2010, for a total of 53 days. That had enormous negative consequences. Real estate closings that were scheduled to happen had to be canceled.…”