The Federal Government will cover the complete costs of emergency power and transit for New York and New Jersey. According to the Craig Fugate, an administrator at the Federal Emergency Management Agency (FEMA), President Obama said that the federal government would cover the power restoration and transit repairs.
The damage is said to cost many billions of dollars. An article by the Huffington Post says that Eqecat assesses that the costs of damages might add up somewhere between $30 to $50 billion.
New York Senator, Charles Schumer says, "This is a good first step on FEMA's part and an indication that they know how serious the damage from the storm is," as reported by Yahoo News.
The decision comes after the President visited both NJ and NY where he assured the states that "obviously this is something heart-breaking for the entire nation...the most important message I have for them (people affected by the storm) is that America is with you, we're standing behind you and we're going to do everything we can to help you get back on your feet," as reported by NBC News.
Hurricane Sandy has been called the largest hurricane to hit the East Coast, and the states in the region have certainly experienced the accuracy of this assessment. Hurricane Sandy claimed the lives of over 70 people, destroyed hundreds of thousands homes, displaced as many people and caused power blackouts in many regions. In addition to these damages, the hurricane has made it impossible for people to commute by debilitating the various transit systems of New York and New Jersey.
President Obama has recently received an endorsement from New York City Mayor Michael Bloomberg because of his policies on climate control and global warming.
