Taxpayer spending on the federal disaster relief fund is almost 10 times higher than it was three decades ago, even after adjusting for inflation.
Taxpayer spending on a U.S. disaster fund has exploded over the past few decades. By Jeff Stein and Jeff Stein Economic policy reporter Email Bio Follow Andrew Van Dam Andrew Van Dam Reporter focusing on economic data Email Bio Follow April 22 at 6:00 AM Hawaii needs funding after volcanic eruptions sprayed lava on homes, bridges and roads.
Experts say the surge in disaster spending reflects the effects of climate change and the growth of people and infrastructure in disaster-prone regions, such as the Gulf Coast. The federal government released a more than 1,000-page report last fall finding that climate change is affecting the U.S. economy.
But of the most recent five years on record — from 2014 to 2018 — the United States has seen an average of 13 billion-dollar disasters every year. In the 1970s and 1980s, spending on the federal disaster relief fund often remained at or below an annual $1 billion in today’s dollars, according to a report by the Congressional Research Service, a nonpartisan government agency. It soared to $4 billion in the late 1990s, before nearly doubling again in the two decades since.
Since 1970, 35 million more people and their homes have moved to coastal shoreline “in the direct path of potentially devastating storm surges,” the researchers found, a 40 percent increase. Several leading hurricane scientists published a report in February finding that hurricanes in the Atlantic Ocean have intensified significantly, in part because of climate change. Over the course of about three decades, the percentage of Atlantic storms rapidly intensifying has dramatically increased, the study found.
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