Ron Paul: FEMA a Disaster
FEMA is a disaster says Ron Paul. FEMA offers cheap insurance to people who live in places that real insurance companies won't insure, essentially enticing them to be reckless.
Insurance is based on the premise that most people won’t file claims, or at least not large ones; their premiums pay for those who do. But this hasn’t worked for FEMA, particularly after Hurricane Katrina in 2005; the flood insurance program is about $19 billion in debt.