Superstorm Sandy Could Carry $33B Hit to New York , Gov. Cuomo Says
Gov. Cuomo said an initial price tag for last week’s Superstorm Sandy is $50 billion for the region.
New York’s hit could be $33 billion for damages and economic loss, Cuomo said.
“That is a staggering number especially in the financial situation that we’ve been in,” he said.
New York, he noted, was forced to close a $10 billion deficit after he took office and is facing another $1 billion deficit next year. Sandy could send next year’s deficit higher.
Cuomo has said he believes the feds will pick up the bulk of the government recovery costs.
While the immediate focus is on the getting electricity back to those who don’t have it, alleviating the gas crunch, and finding housing for those displaced, he said the state will have to deal long-term with how to rebuild the city to withstand “extreme weather situations.”
“Extreme weather, I believe, is here to stay,” he said. “Climate change is a reality. We can have a great political argument about the causes. I want to pass that step. That political argument has gridlocked us from moving forward for far too long.”