After Irene, FEMA Running Low on Funds

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The Federal Emergency Management Agency has less than $800 million in its accounts.

Hurricane Irene's damages alone are expected to range from $2-7 billion.

FEMA has frozen rebuilding projects from other disasters due to a lack of money. The agency acknowledged it needed an additional $5 billion for the upcoming budget year, but that was before Irene.

Like many things in Washington, politics is getting the blame.

House Majority Leader Eric Cantor said the House will find the money to pay for the rebuilding, but Republicans will require budget cuts to offset the additional spending.

Key Senate Democrats said they'll oppose that idea.

For more on FEMA's funding problem, CBN News spoke with Kereakos Zuras, a former George W. Bush advisor and author of 'How to Succeed When Everyone Else is Failing.'  Click play for his comments.

 

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