The article by CNN talks about the Nashville flood last May. It tells how there was an error in communication about how serious the flood will be and explains it in detail. The most important part of this article economically was "more than $2 billion in damages,". This mistake by the National Weather Service and dam operators would us all. Although charity organizations will help the majority of the money will come from state and federal taxes. This will cause a raise in taxes which will take money out of Americans pockets. This hurts the overall economy because there will be less money being put into it. Realistically this flood probably had a small impact on the US economy if it had happened in a much larger place it would have a much greater impact.
3 comments:
Nice analysis especially the last couple sentences. Can you explain/correct this sentence? "This mistake by the National Weather Service and dam operators would us all."
I agree with Kern, very nice analysis. How economically could the flood being in a larger area have less of an impact on the economy?
I think this flood will have some impact on the national economy, but not much. The reason I say this is because even after Katrina there wasn't enough change in taxes to really hurt anyone's wallet. I think the local and state economy will probably be the ones hurting because they will be most likely to get a raise in taxes, while our taxes will just get rearranged in the government to help out.
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