Katrina aid short by 3 billion.
From the Wash. Post:
The massive federally funded program for rebuilding Louisiana homes is short nearly $3 billion, administrators told a state legislative panel here today, leaving uncertain for now how the owners of roughly 100,000 flood-wrecked houses here will be compensated.Cue Kanye.
The report represented the latest crisis for the aid effort initially created to distribute $6.9 billion in federal money to the owners of homes destroyed or damaged by Hurricane Katrina who lacked enough insurance money to rebuild.
More than 20 months after the Katrina catastrophe, tens of thousands of houses remain vacant, in part because of administrative delays in the aid program, the largest single source of direct federal help for homeowners. To date, only 16,000 of 130,000 applicants have received money.