Gallery: Damages From Irene in New York Expected to Reach $1 Billion

Yesterday, President Obama officially declared parts of New York state a federal disaster area because of the extreme flooding caused by Irene, and Governor Cuomo has said that damages in the state are likely to reach a cost of $1 billion. But the worst part is the fact that much of the damage will not be covered by insurance companies, and politicians have already begun partisan arguments over how the damage should be paid for. Thankfully, the declaration of a disaster area frees up some federal funds to help cover the costs, but New York State will still bear much of the financial burden.

Read the rest of this entry »