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Politics : PRESIDENT GEORGE W. BUSH
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To: calgal who wrote (280981)7/28/2002 5:29:34 PM
From: DuckTapeSunroof   of 769670
 
Re: "Terrorism insurance is necessary for construction projects to go forward, so a bill probably will pass this year, but the differences are considerable."

>>> Last December/Jan. the President looked around, but couldn't find a single example of a construction project which hadn't gone forward because they couldn't buy 'terrorism insurance'. Business was arguing that if Congress didn't pay for 'terrorism insurance' by the end of December, the economy would grind to a halt on Jan. first.

>>> Many argue that having the taxpayers assume responsibility for all 'terrorism losses' means that business won't spend to improve security (such as: airline security, building security) which they probably should.

>>> I haven't followed this debate closely... has the President been able to come up with a specific example of a cancelled project yet, or is this just another example of a big government, taxpayer-financed, crony capitalism giveaway?
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