The basic concept of FEMA is cool. Too bad it is another stumbling bureaucracy. Here is a FEMA revamp. Close it down. Fire all the political appointees. The states can then establish some type of cooperative agreement, paying into an insurance plan. Of course states that are more prone to natural disasters should pay more but you might be surprised how often FEMA money is paid out. Floods, fires, and the rest of the apocalypse happens pretty regularly. Maybe we can get Madoff to run the disaster relief plan for the states.
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