Subsidized Flood Insurance Makes Storm Damage Worse
“The National Flood Insurance Program (NFIP), managed by the Federal Emergency Management Agency, was created in 1968 to help homeowners in flood-prone areas afford insurance. Federal law requires that mortgaged properties in designated flood hazard areas carry flood insurance, but insurance premiums in oft-flooded areas are significantly more expensive (if they’re even offered at all). The NFIP offers federal backing for policies that private insurers would not otherwise touch or that would be too expensive for most people to afford.”
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“providing insurance to an otherwise uninsurable market comes at a price: A 2011 report by the nonpartisan Government Accountability Office (GAO) found that 22 percent of NFIP’s policies were issued at subsidized rates, about 40–45 percent of the cost of an unsubsidized policy. Between 2002 and 2013, the NFIP collected between $11 billion and $17 billion fewer in premiums than the market would have dictated.
As a result of charging premiums below market rate, the NFIP often runs over budget”
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“The policies themselves don’t make financial sense. NFIP policy holders are not limited in how many claims they can file or how much money they can receive. As a result, more than 150,000 properties nationwide have flooded multiple times and received NFIP reimbursement each time.”
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“An insurance company’s refusal to provide coverage in a high-risk area provides a disincentive to anyone who chooses to live there: When the inevitable happens, you’ll be responsible for the damage yourself.
But when the government assumes the risk on an insurer’s behalf and makes insurance cheaper than the market would dictate, it creates incentives for people to live in dangerous areas more likely to be battered by extreme weather events.
There is evidence that NFIP’s artificially cheaper policies have done exactly that. A 2018 study by Abigail Peralta of Louisiana State University and Jonathan Scott of the University of California, Berkeley, found that after a county joins NFIP, its relative population “increases by 4 to 5 percent” as residents stay in high-risk areas as opposed to moving away.”
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“Two decades ago, John Stossel relayed the story of his beach house in the Hamptons, built on the edge of the water and insured for just a few hundred dollars a year through NFIP. It was fully or partially rebuilt multiple times over the years before finally getting washed away in a storm, with taxpayers footing the bill each time.
As the 2023 hurricane season gets underway, it’s high time for Congress to end the NFIP—a program that goes billions of dollars into debt providing subsidies to keep mostly wealthy people living in high-risk areas.”
https://reason.com/2023/08/30/subsidized-flood-insurance-makes-storm-damage-worse/
Joe Biden’s Email Aliases Are a Potentially Serious Transparency Problem
“The New York Post first reported in 2021 that Biden used at least three pseudonyms—”Robin Ware,” “Robert L. Peters,” and “JRB Ware”—on emails that mixed family and government business. The aliases were reportedly discovered in emails found on Hunter Biden’s infamous laptop.
The Southeastern Legal Foundation, a legal nonprofit group, filed a FOIA request in June 2022 for all emails associated with the aliases. In its initial response to SLF’s FOIA request, NARA said it had identified roughly 5,400 records potentially responsive to its request. However, NARA has yet to turn over those records. On Monday, the SLF filed a FOIA lawsuit to compel production.
“All too often, public officials abuse their power by using it for their personal or political benefit. When they do, many seek to hide it,” SLF General Counsel Kimberly Hermann said in a press release. “The only way to preserve governmental integrity is for NARA to release Biden’s nearly 5,400 emails to SLF and thus the public. The American public deserves to know what is in them.””
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“Whether or not those emails contain government business or evidence of impropriety that Republicans have been searching for, the use of multiple pseudonymous email addresses and aliases, at the very least, creates suspicion for FOIA requesters. How are watchdog groups and records requesters supposed to know the government is performing complete searches if the existence of alternate or private email addresses isn’t revealed?
However, despite criticisms from transparency groups, the practice has been fairly widespread for at least the past few administrations. Obama-era EPA Administrator Lisa Jackson used the alias “Richard Windsor” and her private email address in messages with lobbyists. Former Attorneys General Eric Holder and Loretta Lynch also used alias email addresses. Trump-Era EPA administrator Scott Pruitt had four government email addresses.
The Obama administration defended using alternate government email addresses as necessary for high-level political appointees since the flood of emails to their public inboxes made those accounts unreasonable to manage.
At a 2013 press conference, then-White House press secretary Jay Carney assured reporters that “this is a practice consistent with prior administrations of both parties, and, as the story itself made clear, any FOIA request or congressional inquiry includes a search in all of the email accounts used by any political appointee.””
https://reason.com/2023/08/30/joe-bidens-email-aliases-are-a-potentially-serious-transparency-problem/
Denmark May Ban Burning the Quran
“The bill criminalizes the “improper treatment of objects of significant religious importance to religious communities.” The prohibition marks a sea change in a country where no one has been convicted of blasphemy since 1946, and successive governments have defended freedom of expression following newspaper Jyllands-Posten’s publication of cartoons depicting the prophet Muhammad in 2005.
The Danish change of heart can mostly be traced to Rasmus Paludan, an anti-Muslim bigot and far-right activist, whose favorite pastime consists of burning Qurans around the country. These Quran burnings have not only led to violence and terrorist threats from religious extremists but also concerted intimidation from the 57 member states of the Organisation of Islamic Cooperation (OIC), which has worked to protect Islam from what they term “defamation” since the publication of Salman Rushdie’s The Satanic Verses in 1988.
A plurality of Danes support the bill. After all, why should they risk terrorist attacks and economic sanctions due to the antics of a widely despised extremist whose ideas and actions are off-putting even to secular non-muslims? Many Danes feel there are better and more sophisticated ways to criticize a religion than torching books.
But it is precisely the tolerance of the most offensive ideas put forth by the individuals most despised by polite society that is the true measure of the civic commitment to free speech. Once you abandon principle for expediency, it establishes a precedent that incentivizes demands for further concessions.
Using violence and diplomatic coercion, religious extremists and the OIC have established that even in liberal democracies, religions and their followers are entitled to special legal protection that trumps individual freedoms. No doubt the Danish prohibition will form the tip of the spear in the OIC’s global campaign to purge “blasphemous” content.”
https://reason.com/2023/08/30/denmark-may-ban-burning-the-quran/
Why the Rich World is Dying and How to Save It
China Is No Economic Model for America
The U.S. is pumping oil faster than ever. Republicans don’t care.
“The late-summer surge in gasoline prices is heightening the risks that inflation poses for President Joe Biden, and offering Republicans a new chance to pin the blame on his green agenda.
The GOP narrative has a major hole: U.S. oil production — already the highest in the world — is on track to set a new record this year, and will probably rise even more in 2024. But the ever-increasing flow of U.S. crude has failed to keep a lid on gasoline prices, showing once again that a global market drives the fuel prices that shape presidents’ political futures.”
https://www.politico.com/news/2023/08/28/republicans-gas-prices-oil-production-00111626
‘Like Snoop Dogg’s living room’: Smell of pot wafts over notorious U.S. Open court
” It’s become a stink at the U.S. Open: a pungent marijuana smell that wafted over an outer court, clouded the concentration of one of the world’s top players and left the impression there’s no place left to escape the unofficial scent of the city.
While the exact source of the smell remained a mystery Tuesday, one thing was clear: Court 17, where eighth-seeded Maria Sakkari complained about an overwhelming whiff of pot during her first-round loss, has become notorious among players in recent years for its distinctive, unmistakable odor.
“Court 17 definitely smells like Snoop Dogg’s living room,” said Alexander Zverev, the tournament’s 12th-seeded man who won his opening match on the court Tuesday. “Oh my God, it’s everywhere. The whole court smells like weed.”
Stung by stories in the wake of Sakkari’s match Monday that made it appear the U.S. Open’s stands are the sporting equivalent of a Phish concert, the United States Tennis Association conducted its own investigation, of sorts, to weed out the source of the smell.
Spokesman Chris Widmaier said the USTA questioned officials and reviewed video of the midday match and found “no evidence” anyone was smoking pot in the stands of Court 17, leading to speculation it may have come from Corona Park just outside the gates of the intimate stadium court.
And he may not be just blowing smoke. Sakkari herself suggested just that when she complained to the chair umpire while up 4-1 in the first set: “The smell, oh my gosh. I think it’s from the park.”
After her 6-4, 6-4 loss to Rebeka Masarova, Sakkari told reporters: “Sometimes you smell food, sometimes you smell cigarettes, sometimes you smell weed. I mean, it’s something we cannot control, because we’re in an open space. There’s a park behind. People can do whatever they want.”
Flushing Meadows security staffer Ricardo Rojas, who was working the gate outside Court 17 on Monday, said he took a break in the park around the time of Sakkari’s match and “there was definitely a pot smell going on.” But he noted that while he enforces a strict no-smoking policy inside the USTA’s Billie Jean King National Tennis Center, the park is “outside my jurisdiction.””
https://www.yahoo.com/news/snoop-doggs-living-room-smell-224554503.html
The Real Reason Drugs Cost So Much — and Do Too Little
“Until 2003, Medicare covered most hospital and doctor visits for the elderly, but it did not cover the ever-growing costs of prescription medications. Former President George W. Bush changed that when he signed a law adding prescription drug coverage to Medicare.
But there was a catch.
At drug companies’ behest, the Republican-controlled Congress banned Medicare from using its market power to drive down drug prices. The prohibition was controversial at the time — Nancy Pelosi, then the House Minority Leader, called it “unconscionable.” Critics saw the prohibition as the government’s abandonment of the single most effective tool for restraining drug costs.
In the years since, the prices for brand-name prescription drugs have skyrocketed, and the prohibition on negotiation has become even more controversial. Higher prices mean larger co-payments for drugs for some seniors, many of whom live on fixed incomes. It’s also a major budgetary problem: From 2018 to 2021, Medicare spending on the 10 top-selling drugs jumped from $22 billion to $48 billion, far outpacing the program’s overall cost growth over the same period.
That’s why, in last year’s Inflation Reduction Act, President Joe Biden and congressional Democrats partly undid the prohibition. Under the law, Medicare will pay a much-reduced price for drugs that consume a disproportionate share of Medicare spending, ultimately saving an estimated $100 billion over the next ten years.”
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“Although the Inflation Reduction Act marks the most substantial change in how we pay for drugs in two decades, it doesn’t change the fact that drug companies will still be rewarded for bringing a drug to market and selling as much of it as they can — whether or not the drug works very well.
Medicare could pave the way toward smarter drug development by paying more for more effective drugs and less for drugs that are less effective. That would send the right signals about where drug companies should target their research investments. The Inflation Reduction Act isn’t that law. We’ll spend less on prescription drugs because of it, and that’s all to the good, but we won’t be spending any smarter.”
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“Some drugs are (literally) worth their weight in gold. Think of Sovaldi and Harvoni, which were approved a decade ago and can cure Hepatitis C, a deadly viral disease that once afflicted between 3 and 5 million Americans. Paying a lot for cures encourages drug companies to invest in developing drugs with curative potential.
But most drugs aren’t cures. Drug companies generally earn more, in fact, on drugs that patients take over an extended period. That helps explain why fully one quarter of all drug approvals are for cancer drugs. They’re really profitable, even though they often don’t work very well.”
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“How we pay for drugs, in short, sends the wrong signals to the market about the kind of innovation we value. The good news is we can fix that. As law professor Rachel Sachs has argued, Medicare and Medicaid (and to some extent private insurers as well) are required by law to cover all FDA-approved drugs, whatever their value to human health. That linkage can be severed. We could give CMS the authority not only to drive down the prices of the most expensive drugs, as the IRA does, but also give it the power to pay less for, or even exclude coverage for, drugs of marginal efficacy.
Connecting payment to value would be complicated, and there’s no perfect way to do it. It would also be controversial: Paying less for some novel therapies would likely restrict access to therapies that some patients desperately want. But we’d send much smarter signals to drug manufacturers about where to target their investment dollars. And the benefits of better-targeted innovation would accumulate over time, vastly improving human health in the long run.
The IRA was meant to save the taxpayers’ money, not to improve their health. That was worth doing. But the next reform to payment policy ought to aim higher.”
https://www.politico.com/news/magazine/2023/08/27/medicare-drug-price-value-00111346
China behind ‘largest ever’ digital influence operation
“People with ties to China’s law enforcement agencies conducted the largest known covert digital influence operation aimed at discrediting the West and promoting Beijing’s agenda across more than 50 social media and online platforms, according to a report published Tuesday by Meta.
On Facebook, clandestine users with ties to the authoritarian government racked up more than 550,000 followers by spouting lies about the United States’ alleged role in creating the COVID-19 pandemic and criticizing Washington’s support of Taiwan.”
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“The campaign, which lasted over a year, garnered few, if any, eyeballs from real social media users, based on Meta’s analysis. But the breadth of the international influence campaign by those associated with the Chinese government highlights how Beijing is vying for prominence alongside Moscow as the most active spreader of disinformation ahead of major elections in the European Union, U.S. and the United Kingdom next year.”
https://www.politico.eu/article/china-behind-largest-ever-digital-influence-operation-says-meta/