GOP Congressman: Pay For Disaster Relief With Spending Cuts

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Published August 26, 2011

| FOXBusiness

Disaster relief can be expensive, particularly for a government embroiled in a huge fight over rampant fiscal spending. The government usually finds the money to pay for hurricane and flood relief.

But, this time around, a spokesman for a top GOP Congressman in the thick of the spending fight says her boss will demand that lawmakers pony up spending cuts to make up for any disaster expenditures.

A spokeswoman for Rep. Eric Cantor, (R-VA) told Talking Points Memo, a website, that Mr. Cantor has consistently said that additional funds for federal disaster relief ought to be offset with spending cuts.

Ok, so what dollar amounts might we be talking about here?

Lets take a look at a ranking of the costliest hurricanes, in 2009 dollars, courtesy of FOX News analyst James Farrell. Data is from the Insurance Information Institute.

TOP TEN MOST COSTLY U.S. HURRICANES

Hurricane                   Dates                                      Damages
1. Katrina                  Aug. 2005                                 $45.1 BN
2. Andrew                 Aug. 1992                                   22.2 BN
3. Ike                        Sep. 2008                                    12.6 BN
4. Wilma                   Oct.  2005                                    11.3 BN
5. Charley                 Aug. 2004                                       8.5 BN
6. Ivan                      Sep.  2004                                       8.1 BN
7. Hugo                    Sep.  1989                                        6.6 BN
8. Rita                      Sep.  2005                                         6.2 BN
9. Frances                Sep.  2004                                         5.2 BN
10. Jeanne                Sep.  2004                                         4.1 BN

Notes: 09 $$; excludes flood damage

Source: Insurance Information Institute

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http://www.foxbusiness.com/markets/2011/08/26/gop-congressman-pay-for-disaster-relief-with-spending-cuts/