Recovery from “Sandy” May Cost $100 BILLION
The numbers are coming out as far as the amount of money it will take to recover from the wake of Sandy’s damage, and the total could reach or even exceed $100 Billion.
In his first major act since announcing his seeking re-election for governor in The Garden State, Chris Christie has asked the federal government for nearly $37 billion in aid to help New Jersey recover and rebuild. The Press of Atlantic City got the breakdown of the money distribution: $7.4 Billion to cover mitigation, protection and prevention of future disasters, along with a preliminary amount of $29.4 Billion to cover repairs and response.
Over in New York, Gov. Andrew Cuomo is looking for about $42 Billion from the federal government – $32.8 Billion (estimated) to repair housing, parks and infrastructure, plus coverage of lost revenue and “other expenses”, along with $4.9 Billion for mitigation.
These numbers could increase with further information. Factor in other states (like Maryland and Connecticut for example) who may file for government aid, and you could see the cost of recovery exceed $100 Billion.
Christie seems hopeful that the government will respond favorably to the needs of N.J. and N.Y., the same way it provided aid to Louisiana, Mississippi and Texas after Hurricane Katrina.