The best definition for “wasteful government spending” is this: Taxpayer dollars that help somebody else.
Take, for example, the National Flood Insurance Program, which was created by Congress in 1968, because private insurance companies balked at covering flood damage. So to help shoulder the risks of homes or businesses built in areas prone to flooding, the federal government stepped in and subsidized coverage with tax dollars. The many shouldering the burden of the few.
Subscribers get total access to this story, and all our in-depth news, digital editions and exclusive content. Subscribe today, or try a 24-hour or 7-day digital pass.
Registered Post Subscriber — Sign me in.Sign In
Post Print Subscriber — I need to register my account for digital access.Access Digital
All Day Access — 24-hour digital pass99¢ for 24 hours
All Week Access — 7-day digital pass$3.99 for 7 days
All Access, All the Time — Print & DigitalView Offers