NEW ORLEANS — Politicians and bureaucrats love buzzwords. It spares them the trouble of telling the truth.
Right now Congress and FEMA are discussing "Risk Rating 2.0." That's a buzzword for skyrocketing flood insurance premiums. And it hides an awful truth: Congress has taken the subsidies out of subsidized flood insurance, making it too expensive for people who need it most.
Here's another truth: America subsidizes corporate farmers, major industries and other special interests with subsidies, tax breaks and more. Flood insurance helps a lot more people than corporate welfare.
Making flood insurance "actuarially sound" is just another slogan designed to hide this truth: We're getting screwed. Congress needs to save flood insurance, not price it beyond people's reach.