NY Times Op-Ed by MIIS Experts Critiques Federal Flood Insurance Program
November 29, 2012
Spurring a lively debate on the New York Times’ website, Judith Kildow, director of the National Ocean Economics Program at the Monterey Institute and Professor Jason Scorse, director of its Center for the Blue Economy, warn that the National Flood Insurance Program is a “fiscal time bomb for the government.” Their jointly written op-ed “End Federal Flood Insurance” was featured prominently in both the print and online editions of the national newspaper on November 29.
The dynamic duo of ocean and coastal policy studies at the Monterey Institute say the current system of taxpayer liability for damage caused by coastal flooding tends to encourage risky behavior and is not financially sustainable. They call on Congress and the White House to challenge the status quo and make tough decisions that will gradually move us away from “incentives that support living in high-risk areas.”