Dr. Coburn and Avery James

May 9, 2008 Dr. Coburn Criticizes Senate for Subsidizing Coastal Homes in Flood Insurance Bill “Today, Senators had a chance to do the responsible thing and pay for this bill with common sense fiscal restraint. Unfortunately, politicians in both parties chose not to do the hard work of conducting oversight on a program that hasn’t worked and isn’t going to work. Countless audits and studies have shown that the NFIP has turned into a boondoggle that subsidizes wealthy homeowners who don’t want to pay for the risks associated with living near the ocean or a flood plain. Yet, instead of fixing the problems with the program, politicians who are running for re-election chose to charge $30 billion to the next generation,” Dr. Coburn said. “The American people have lost confidence in Congress because we refuse to set common sense priorities and make hard choices. Finding ways to pay for this bill would not have been difficult. This government wastes at least $300 billion every year. It’s not too much to ask politicians in Washington to tighten their belts, just like all American families do in tough economic times,” Dr. Coburn said....

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