Not surprisingly, reports that the Federal Emergency Management Agency (FEMA) is running out of money have surfaced. The fund’s capacity has been maximized by the most recent natural disaster, Hurricane Irene (path shown in photo), which is estimated to cost billions of dollars.
With less than $800 million in its disaster aid coffers, the Federal Emergency Management Agency has been forced to freeze rebuilding projects from disasters dating to Hurricane Katrina to conserve money for emergency needs in the wake of Irene. Lawmakers from states ravaged by tornadoes this spring, like Missouri and Alabama, are especially furious.
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