I was surprised to read that only $5 billion dollars of the Katrina aid package approved by the Senate yesterday was new money:
Most of the hurricane aid — $24 billion — has already been authorized by Congress as part of a federal Disaster Relief Fund. The money now will be diverted from the fund, overseen by the Federal Emergency Management Agency, and sent directly to Gulf Coast states and victims.I am not ungrateful for the $5 billion dollars, but I was under the impression that this was an additional $29 billion on top of what was originally given to FEMA (I believe $62 billion).
I am now wondering why that $24 billion dollars wasn’t already earmarked for spending and how much more money is just floating around waiting for direction. There’s nothing I dislike more than directionless Katrina aid.