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Message
Insurance Claims for Farmers in the Spillway
Posted on 5/13/11 at 7:29 am
Posted on 5/13/11 at 7:29 am
LINK
Is it possible that they are not publicly saying "It will be opened" because of the insurance claims for farmers? This quote, "We got a letter from the Corps saying the property would flood whether they open the spillway or not, so it's a natural disaster," sounds to me like they are going to try to wait it out as long as possible to make sure these farmers get their money.
I know it will be opened, but I have not heard Jindal definitively say it will be opened.
Is it possible that they are not publicly saying "It will be opened" because of the insurance claims for farmers? This quote, "We got a letter from the Corps saying the property would flood whether they open the spillway or not, so it's a natural disaster," sounds to me like they are going to try to wait it out as long as possible to make sure these farmers get their money.
I know it will be opened, but I have not heard Jindal definitively say it will be opened.
3
Posted on 5/13/11 at 7:47 am to lsuhunt555
I don't know how that works. My husband is a farmer but we're not near that area. I know that we have crop insurance ... some farmers don't. And I think that what they do is give you a low interest loan ... try a low interest loan to pay off a crop loan of I don't know ... $500K or so???
The whole flooding situation stinks so much for all involved. God bless everyone and help them to move on after it's over.
The whole flooding situation stinks so much for all involved. God bless everyone and help them to move on after it's over.
Posted on 5/13/11 at 7:51 am to lsuhunt555
Interesting
Posted on 5/13/11 at 7:53 am to tiger91
quote:
I don't know how that works
Yea I'm not real sure how it works either. That's why I brought this up. Maybe by Jindal making that comment it could limit the amount of wiggle room the Insurance companies have to try and get out of paying the claims by saying it wasn't a natural disaster. Whatever the case, I am certainly hoping for everyone one of those farmers to get whatever they can from them.
Posted on 5/13/11 at 8:55 am to lsuhunt555
quote:
could limit the amount of wiggle room the Insurance companies have to try and get out of paying the claims by saying it wasn't a natural disaster.
The "insurance company" is the taxpayer. We all pay for crop insurance through the Federal Crop Insurance Corporation. In the last year reported, '09, it cost us $7,000,000,000. It has cost about $30 billion over the last ten years.
Posted on 5/13/11 at 9:18 am to lsuhunt555
quote:
Is it possible that they are not publicly saying "It will be opened" because of the insurance claims for farmers?
Doubtful.
Posted on 5/13/11 at 11:14 am to lsuhunt555
The whole "is it a natural disaster or did you evacuate on your own" only applies to business interruption insurance, not property insurance.
Posted on 5/13/11 at 11:20 am to JudgeHolden
quote:
The "insurance company" is the taxpayer. We all pay for crop insurance through the Federal Crop Insurance Corporation. In the last year reported, '09, it cost us $7,000,000,000. It has cost about $30 billion over the last ten years.
That is nauseating if true.
Posted on 5/13/11 at 11:32 am to TigerDog83
quote:
That is nauseating if true
$36,000,000,000 over five years between 05 and 09.
LINK
Yesterday the oil company execs got their asses handed to them over "tax breaks" totaling $10 billion over five years. The farmers get one hell of a lot more. No one will touch them. AND, that does not begin to take account of the favorable tax treatment, price supports, and other subsidies given to farmers by the government.
Posted on 5/14/11 at 8:35 am to JudgeHolden
quote:No shyt there!
Yesterday the oil company execs got their asses handed to them over "tax breaks" totaling $10 billion over five years. The farmers get one hell of a lot more. No one will touch them. AND, that does not begin to take account of the favorable tax treatment, price supports, and other subsidies given to farmers by the government.
Posted on 5/14/11 at 8:48 am to JudgeHolden
There are no poor farmers if they know how to work the system.
Posted on 5/14/11 at 9:17 am to nrtiger
Go talk to people in Nebraska. The far majority of farmers are simply paying off the previous generation's debt. and once they can't do it any longer, they sell out to the big guy of the county and get out of farming totally.
Posted on 5/14/11 at 9:20 am to guttata
quote:
they sell out to the big guy of the county and get out of farming totally.
Which is sad, but here is what it means. We have set up this huge safety net for family farmers. And now the real beneficiary is Archers Daniel Midland and other agri-giants.
Posted on 5/14/11 at 11:49 am to JudgeHolden
I know lots of farmers and they are all far from being poor.
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