The Eastern Seaboard is still limping toward recovery post-Superstorm Sandy. Just as the government was really getting rolling distributing $60 billion in federal aid that was authorized in January, that amount was chopped by 5 percent thanks to sequestration.
And now comes news that some of that rebuilding money is being spent not-so-wisely. While San Francisco is trying to make a “managed retreat” from rising seas, the tri-state area seems to be more in favor of a “whatevs, fuck it” approach. ProPublica reports:
A WNYC and ProPublica analysis of federal data shows at least 10,500 home and business owners have been approved for $766 million in SBA [Small Business Administration] disaster loans to rebuild in areas that the government now says could flood again in the next big storm. The data, which shows loans approved through mid-February, was obtained via a Freedom of Information Act request.