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Federal Flood Insurance program having debt problems
The Federal Flood Insurance program is having some debt problems.
The program is 24 billion dollars under, stemming largely from bailing out homeowners in the path of hurricane Katrina back in 2005.
The government accountability office says weaknesses in the program will burden taxpayers for years to come.
Some people recommend having private owners pay flood insurance, not taxpayers.
"There was reform legislation passed in 2012 to try and make taxpayers less responsible for this program, to make property owners themselves pay for their own insurance. But constituents saw insurance rates rise and they complained, so Congress was responding to that."
To find why some in Congress opposed to reforming the insurance program.
You can go to our website and follow the link to the Washington Times.