Political Quotes

“I rise today with great respect, affection, and admiration for my friend and distinguished colleague, the Senator from Louisiana. I have always appreciated his dedication to the welfare of his constituents and the prudent management of taxpayer dollars. When it comes to the National Flood Insurance Program, or NFIP, as it is known, I must voice some concerns. The NFIP, by its very nature and its current structure and the way it has been operating, remains a perfect example of what can happen when good intentions meet imprudent policy. We find ourselves on the precipice of what is euphemistically called a clean reauthorization. While the term ``clean'' as used here may suggest unerring direction or impurity or transparency, in this context, clean is better understood as ``unchanging'' or even ``unreflective.'' Let's be clear on the facts here. Commerce created the NFIP as a government flood insurance monopoly, one that covers privately owned properties. Yet this government-backed monopoly behemoth sits on more than $26 billion in debt owed to the U.S. Treasury. My friend and colleague referred, a moment ago, to the ability to cover up to $30 billion of potential liabilities. They have $20 billion in debt because of the way the program has been run. There is no subtly as to why this has happened. The NFIP is offering special below-market rates for insurance in regions and for specific properties that are inherently flood-prone.…”