Paul criticized the agency’s flood insurance program, which allows property owners to purchase insurance from FEMA for homes private insurers were not willing to back. “The whole idea of FEMA is a gross distortion of insurance”, Paul argued. “It’s so far removed from the market and what insurance should be about.”
“It’s a system of bureaucratic centralized economic planning that is a policy that is deeply flawed. They contribute to deficit financing and, quite frankly, they don’t have a penny in the bank.” Paul said on Fox News Sunday. He argued that FEMA had one of the worst reputations for a bureaucracy ever. Read more….
Paul added that FEMA is one example of how government has created a culture of dependency and encourages ill-advised behavior in the private sector.
Ron Paul: “We conditioned people that FEMA will take care of us and everything will be OK.”
Ron Paul: Abolish FEMA! Why Should Someone Else Rebuild My House?