The collapse of the Key Bridge in Baltimore represents a major setback for the Port of Baltimore and the entire East Coast highway network. Although the debris removal may be completed within a few weeks, the reconstruction process will be both time-consuming and expensive. Some estimates suggest the cost could exceed $1 billion. So who will pay the bill?
Straight Arrow News contributor Newt Gingrich contends that there is a fundamental issue with how President Biden and fellow Democrats perceive the role of government. Gingrich argues that in the case of rebuilding the bridge, American taxpayers should not be solely responsible, especially when insurance companies are liable to cover such damages.
President Joe Biden’s announcement that the U.S. taxpayers were going to put up a billion dollars to rebuild the Francis Scott Key Bridge in Baltimore is about as dumb as anything this administration has done. And boy, that’s saying a lot.
Why would I say it’s dumb? Pretty straightforward. The ship that hit the bridge is insured, the insurance company has an obligation to pay for the damages.
Now, Biden, who is a left-wing Democrat, of course, is against big corporations and against the rich. Why would he step in and protect the insurance company from having to meet its obligation? After all, the reason you buy insurance is in case you need it. And presumably, the insurance syndicate that was put together to cover this ship is fully prepared to pay in this kind of circumstance. That’s why they have insurance premiums. Oh, that’s not good enough for Joe Biden. He has this nutty idea that if the federal government steps in, then he will be a hero.