Wednesday, September 07, 2005

Katrina Promises to Wreck Federal Budget

Just as Washington was reporting more money coming in -- Katrina blew their estimates out of whack.

The bean counters now believe recovery costs could be as high as $150 billion.
  • Congress has already approved more than $10 billion
  • President Bush is asking for $50 billion more for now
  • Rescue and recovery costs $700 million a day
In addition, the Congressional Budget Office predicts the storm will cost 400,000 American jobs. (USAToday)

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