Is it true it was not damaged (much) and remains unflooded? Some guy was just spouting this at work.
Yes, the FQ, the Convention Center area, and some of the other higher areas were relatively unscathed. The FQ is about 12 feet above sea level.quote:
Pablo:
Is it true it was not damaged (much) and remains unflooded? Some guy was just spouting this at work.
Same as always. You borrow money from a bank, build homes, pay off mortgage over 25 years. City issues bonds to reconstruct roads etc. Property tax eventually pays off the bonds.quote:
Originally posted by Kestas:
Now they're putting the tab to rebuild the city at $100B. If you do the math I think that comes to $1000 for every taxpayer in the US. And each taxpayer will pay for this one way or another... increased insurance premiums, increased taxes next year, or larger deficit. There's no magic slush fund to cover this loss.