Hurricane Sandy to cost New York $42 billion dollars

November 27, 2012NEW YORKSuperstorm Sandy ran up a super bill of $42 billion across New York, causing more damage than the infamous Hurricane Katrina, New York Governor Andrew Cuomo said Monday, appealing for federal emergency funds. Cuomo told a news conference that Sandy’s impact had by some measures been worse than Katrina, which caused devastation along the US Gulf Coast in 2005. Although Katrina’s death toll at 1,833 was far higher than the approximately 110 killed during last month’s hurricane-strength Sandy, the damage to property and businesses was worse this time round, he said. The total bill in New York and neighboring New Jersey was “62, 61 billion dollars,” Cuomo estimated, although that number seemed sure to rise when including extra funds needed for protection against future storms. In New York state alone, Cuomo said the total cost of recovery work came to $32.8 billion, with another $9.1 billion in prevention expenses. Footing that bill would “incapacitate” New York’s budget, Cuomo said, urging Washington to come to the rescue with federal aid. Earlier, New York City Mayor Michael Bloomberg said America’s biggest city had suffered $19 billion in Sandy-related costs. The Big Apple “will struggle to recover in the long term unless expedited federal funding is supplied,” Bloomberg said. The October 29 hurricane flooded the subway train system, damaged tens of thousands of houses in the New York area, knocked out electricity in swaths of the city for days, and prompted severe fuel shortages. Among the storm’s prominent victims was the Statue of Liberty, which had only just reopened after a year’s refurbishments and is now to be closed again for at least the remainder of 2012. The National Park Service said on its website that “a projected reopening date has not yet been established.” According to the mayor, the net repair bill from the storm falls to $9.8 billion once private insurance and already pledged Federal Emergency Management Agency aid are factored in. But “federal legislative action will be required to address the budget gap that will result once available FEMA funds and insurance proceeds are drawn down,” he said. –Space Daily
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This entry was posted in Catastrophic Insurance losses mount, Civilizations unraveling, Climate unraveling, Cyclone or Hurricane, Deluge from torrential rains, Earth Changes, Earth Watch, Extreme Weather Event, Infrastructure collapse, Record rainfall, Strange high tides & freak waves, Time - Event Acceleration, Unprecedented Flooding. Bookmark the permalink.

6 Responses to Hurricane Sandy to cost New York $42 billion dollars

  1. City needs to rewrite all Zoning and Building code to reflect the dangers of climate change… this may tank real estate… But I cannot imagine Insurers paying to rebuild structures more than 2 times…

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  2. Bill Ford says:

    Hand out and mouth open. Typical.

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  3. Grandpa says:

    like always ,build build build ,spend spend spend, eat your friggin bons bons . overrides the original concept of maintainance.. anyone doing anything more than helping their neighbor is doing someonelses job . DONT!

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  4. archie1954 says:

    I’m sorry to say this but these kinds of storms and these kinds of clean up costs are going to be the norm in the near future, due to current energy pollutionm and the US still produces about 23% of the whole world’s total, thereby being the biggest or second biggest creator of climate change on earth. You might consider the benefit to the country and also to the wrold if green energy solutions were found.

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  5. Irene C says:

    The damage and death toll in Katrina came more from the breaking of the Levys than from the hurricane itself. The major problem of a hurricane hitting the East Coast, especially New York and New Jersey is the condensity (not sure if that’s a word, but you know what I mean) of the population. People and buildings are packed together like sardines. Add that to the fact that it’s pretty close to sea level, which is devastating when it comes to storm surge, not to mention the fact that the subways are underground.

    The Weather Channel had a program called “It Could Happen Tomorrow”. One of their episodes involved a hurricane hitting NYC. Although this was more of a Superstorm than a hurricane, I don’t think The Weather Channel even imagined how much damage would actually happen.

    My prayers are still with these people, especially since the weather is getting so much colder and they are in line for more snow.

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  6. M.A.D says:

    May God keep blessing us in SoCal.

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