National Flood Insurance Program Needs Another $5.6 Billion to Get Through 2006
January 26, 2006
The $18.5 billion borrowing authority that Congress approved for the National Flood Insurance Program in November is still not enough, according to the Federal Emergency Management Agency. The NFIP is set to reach its borrowing limit by mid-February and the program will require an additional $5.6 billion in borrowing authority to cover claims and expenses through 2006. …
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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