Hurricanes are an unfortunate reality in the American Southeast… To counterbalance the benefits of the warm, tropical lifestyle so many have become accustomed to, all citizens in this region must also be prepared for destructive storms to swoop in and turn that lifestyle upside down.
Many citizens in Louisiana have seen that hypothetical situation turn into a reality on more than one occasion. And the most recent occurrence with Hurricane Ida making landfall in the state, is just the reminder the Louisiana population was hoping to avoid.
While President Biden looks to visit the devastated region this Friday, many of his colleagues in D.C. have begun looking at the tragic situation with a fresh set of eyes, hoping that out of the destruction, could come some good.
Join us today as we look at the impact this most recent storm has made in the American South and how D.C. officials hope to take advantage of it to uplift the U.S. economy.
Ida Makes Landfall
Louisiana is no stranger to these types of storms, being at the top of the list of one of the most hurricane-prone regions in the country.
… Ida, however, seems to have set a new record when it comes to hurricane devastation, as it soon became labeled one of the most powerful storms to ever make landfall in the United States.
The storm made landfall this past Sunday as a Category 4 hurricane and managed to leave a massive path of destruction and power outages in its path.
D.C. Takes Note…
As many in New Orleans continue to struggle in the wake of this massive storm, officials in D.C. have begun to look upon this as an opportunity to bolster supporters of President Biden’s infrastructure bill, who say “the latest natural disaster shows the need to immediately enact the $46 billion included in the legislation to mitigate the destruction wrought by floods, wildfires and droughts, and the $28 billion to strengthen power grid infrastructure, resiliency and reliability.”
Infrastructure reform has always been an issue met with bi-partisan support in Washington, but this latest bill, which some in D.C. felt contained hidden agendas by Democrat lawmakers has continued to be a struggle to implement since its inception at the beginning of the Biden term.
Despite any political bickering that it may have caused, any movement on U.S. infrastructure would create a much-needed boon to the U.S. economy and well-being, in general.
Senator Bill Cassidy of Louisiana said during an interview on CNBC, “If we are going to make our country more resilient to natural disasters wherever they are, we have to start preparing now… We can’t look in the rearview mirror and say, ‘Boy, I wish we were prepared.’”
Cassidy further added, “I’m sure hoping that Republicans look around my state, see this damage and say, ‘If there’s money for resiliency, money to harden the [power] grid, money to help sewer and water, then maybe this is something we should be for.”
The bill has already been passed by a 69-30 vote just last month but still needs to go through the House of Representatives before it can become law.
Ida and Your Investments
With the U.S. now officially out of Afghanistan, perhaps the time has come to shift the monetary focus onto ourselves for a while… With overseas expenditures beginning to level off for the first time in 20 years, this could give the current administration some extra funds to play with to rebuild the crumbling U.S. infrastructure.
… And a move forward on such a bill would not only help reshape our country, but create a plethora of jobs and investment opportunities for everyone.
Despite the massive destruction seen in Louisiana only a few short days ago, perhaps the light at the end of the tunnel is now a shift of attention away from Middle Eastern conflicts and back onto our own turf.
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This is just one perspective on recent news and market updates…
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