4.05h Economics Fema Project

Topics: Hurricane Katrina, Tax, Economics Pages: 1 (361 words) Published: March 1, 2013
1. FEMA’s work can be followed back from before its official existence. It all started back when the Congressional Act of 1803 was passed. FEMA comes to the rescue when natural disasters such as earthquakes, hurricanes, floods and tornadoes. During the 1960’s – 1970’s, these natural disasters needed to be aided somehow and came to be the major focus of FEMA. Over the course of passing several acts, they provide insurance for homeowners as well. 2. Wherever a natural disaster has the option of occurring or threatens to occur, anyone can benefit. Citizens benefit from the insurance that FEMA provides if such an event happens. When the time comes, FEMA will burst to the rescue and helps out with any refugees that are in need of support whether it comes to their home or general living. 3. FEMA uses a cost-effective advance to administering their disaster services. The total cost of the program is said to be around 18.8 billion USD. Derived from the taxpayer’s income is the yearly cost, which is usually different. It all depends on their tax bracket since our system is progressive, meaning the more you make, the more you give. 4. The average percent of the total federal budget spends about six percent on FEMA and the other emergency disaster related programs. The percentage is slowly increasing over the years that FEMA has been active. 5. The impact from FEMA on price stability is offering discounted supplies to refugees that can’t be found in local stores as easily. It impacts full employment by getting citizens’ life back in shape and normal with a job and a regular life. It benefits the economic growth because it helps people get back to working where they can participate in spending and buying, keeping the economic cycle turning. 6. There are many arguments for and against of FEMA. Some organizations say that there are places majorly effected from hurricanes where FEMA coverage is not helping out the best, resulting in upset citizens. There are...
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