The Flood Insurance Program is taxpayer funded insurance for properties that cannot obtain private insurance, overruling the market’s verdict that these properties should not be insured.
The Program has been kept afloat from ‘loans’ from the Treasury, which means it will never be paid back except by citizens in the form of higher taxes and inflation.
The Cato Institute is a Libertarian think tank, funded by the Koch brothers, that claims to be dedicated to individual liberty, limited government, free markets, and peace.