Sandy Cost – $29.5 Billion

On 30th October, New Jersy faced a Superstrom in the name of Sandy. It has been estimated that the economical damaged caused by this hurricane is almost $29.5 Billion.

The Hurricane wretched eight US States leading to shutdown of subway system of the US for days together along with power outages. Christie administration has marked it to be the costliest hurricane ever in the history. Although, it will be further confirmed in the days to come. The damage caused by Hurricane Sandy includes personal property, business, communication, transportation and utility damage.

According to the forecasting firm, Eqecat, the damage from the strom is worse than what was actually predicted. Mainly because Sandy targeted the most thickly populated area in the country.

As per Christie, “In a short period of time, we put together a comprehensive and responsible estimate, which may increase in the weeks ahead, and I stand ready to work with our Congressional delegation and the Obama administration to get the funding support New Jersey expects and deserves in the aftermath of this catastrophe,”

Vice Chairman of the Senate approximations Subcommittee on Homeland Security, Sen. Frank Lautenberg, is a member of the full Approximations Committee. They will investigate and write the emergency package for Hurricane Sandy.

Lautenberg said, “This cost analysis is a critical step in our effort to move a strong emergency funding package forward in Washington. The people of New Jersey can rely on the congressional delegation to work with the Obama Administration, Governor Christie and our colleagues to deliver the funding necessary for New Jersey families, communities and businesses to recover and rebuild so that we’re stronger than ever before.”

The governor also promised to provide urgent assistance to all the inhabitants of New Jersey who faced the menace of Sandy. He also assured that the transportation facilities and infrastructure utilities will be reinstated and rebuild as soon as possible without any delay.

Officials said that the approximation of the damage will include setback on the tourism department, value of real estate in that area and various other aspects.

 

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