I saw Walter Isaacson last night on Charlie Rose. He is Vice Chair of the Louisiana Recovery Authority and he spoke a bit about the recovery in New Orleans. Isaacson alluded to some inside knowledge that Bush will probably drop the 10% FEMA match.
And we have to pay 10% to match what the federal government pays. So far we’ve generated 2.6 million documents. Every traffic light, every you know fire hydrant, you have to document both for HUD and for FEMA how you’re going to do that match. That is just burying us and if we could get out from that match requirement for the big projects, Boom, we could rebuild much faster.
I do think, I don’t want to reveal anything, but I do sense in Washington that the President understands this and he probably will go in this direction.
So does Isaacson really know something here? If so what is Bush waiting for? The veto?
Video can be seen here— above remarks come at about 54:00 mark.