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Clancy: We're getting screwed under 'Risk Rating 2.0'

In the wake of Hurricane Ida, people across south Louisiana are finding out that the cost of flood insurance is going up. Sometimes, way up.

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.

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