Just curious, why is the federal taxpayer going to give $8B to rebuild a bridge in Baltimore. A bridge that is apparently covered by insurance.

[shockedcanadian]

I don't know if anyone has raised this from the latest funding Bill but many online posters have.

They ask why and how?

Anyone know? I'd like to understand.

 

[pknopp]

It might be an interesting topic with more info behind it.

 

[shockedcanadian]

It might be an interesting topic with more info behind it.

Interestingly enough, the bridge was estimated to cost $2B to build a new one but your government gave them $8B. This was the bridge hit by the ship earlier this year. In the spending Bill yesterday, they earmarked $8 BILLION for this bridge it's in black and white as some fiscal conservatives asked questions.

What are you guys doing? Are you trying to intentionally bankrupt the U.S and be sold off to China?


Key Bridge rebuild will be entirely funded by federal government, Maryland lawmakers say

Key Bridge rebuild will be entirely funded by federal government, Maryland lawmakers say

Maryland lawmakers announced the federal government will cover the entire cost to replace Baltimore's collapsed Francis Scott Key Bridge.

www.cbsnews.com

A newly built Key Bridge is estimated to cost nearly $2 billion and is expected to be completed by the fall of 2028.

Request for funding​

In November, President Joe Biden included money to rebuild the Key Bridge in a $100 billion disaster fund request he sent to Congress, an important step toward securing federal funding.

In the request, Biden asked for funds for the Department of Transportation to help rebuild roads and bridges across 40 states, including in Maryland.

 

[pknopp]

Interestingly enough, the bridge was estimated to cost $2B to build a new one but your government gave them $8B. This was the bridge hit by the ship earlier this year. In the spending Bill yesterday, they earmarked $8 BILLION for this bridge it's in black and white as some fiscal conservatives asked questions.

What are you guys doing? Are you trying to intentionally bankrupt the U.S and be sold off to China?


Key Bridge rebuild will be entirely funded by federal government, Maryland lawmakers say

Key Bridge rebuild will be entirely funded by federal government, Maryland lawmakers say

Maryland lawmakers announced the federal government will cover the entire cost to replace Baltimore's collapsed Francis Scott Key Bridge.

www.cbsnews.com

A newly built Key Bridge is estimated to cost nearly $2 billion and is expected to be completed by the fall of 2028.

Request for funding​

In November, President Joe Biden included money to rebuild the Key Bridge in a $100 billion disaster fund request he sent to Congress, an important step toward securing federal funding.

In the request, Biden asked for funds for the Department of Transportation to help rebuild roads and bridges across 40 states, including in Maryland.

Thanks for the follow up. Reading now.

 

[pknopp]

The question as to why the estimate is $2 billion but they are passing $8 billion is a good question.

Seems to me they are saying they are passing this to get it built ASAP and will sue the insurance company to get the money back. But that is saying insurance doesn't work which plays into a much bigger argument people are having.

If you pay and pay into insurance but have to sue to get them to pay out when needed, it is not working.

Also, as of now the bill has been stopped.

 

[martybegan]

The question as to why the estimate is $2 billion but they are passing $8 billion is a good question.

Seems to me they are saying they are passing this to get it built ASAP and will sue the insurance company to get the money back. But that is saying insurance doesn't work which plays into a much bigger argument people are having.

If you pay and pay into insurance but have to sue to get them to pay out when needed, it is not working.

Also, as of now the bill has been stopped.

Because it involves a ship, maritime law is involved and that complicates things immensely.

Better to fund the fix and then fight over the money in parallel.

 

[pknopp]

Because it involves a ship, maritime law is involved and that complicates things immensely.

Better to fund the fix and then fight over the money in parallel.

Insurance insured it. Start paying off. They can sue the shipping companies insurance.

That doesn't explain the additional 6 billion either.

 

[martybegan]

Insurance insured it. Start paying off. They can sue the shipping companies insurance.

That doesn't explain the additional 6 billion either.

That doesn't make money available for the actual work while the lawsuits go about.

You can't pay construction workers or procure steel and concrete with IOU's.

Contracts have to be setup and fully funded before a shovel hits the ground or steel ships from the foundry.

 

[Wild Bill Kelsoe]

I don't know if anyone has raised this from the latest funding Bill but many online posters have.

They ask why and how?

Anyone know? I'd like to understand.

Why? So the politicians can line their pockets with kickbacks.

 

[pknopp]

That doesn't make money available for the actual work while the lawsuits go about.

You can't pay construction workers or procure steel and concrete with IOU's.

Contracts have to be setup and fully funded before a shovel hits the ground or steel ships from the foundry.

And the insurance should be funding that. It's what they were paid for.

 

[martybegan]

And the insurance should be funding that. It's what they were paid for.

Again. It's still in litigation. The Insurance company could take years to pay out.

So the bridge work should wait until all the legal wranglings finish?

I work in Construction, high level infrastructure construction. Do you?

 

[The Duke]

I don't know if anyone has raised this from the latest funding Bill but many online posters have.

They ask why and how?

Anyone know? I'd like to understand.

Is it on a Federal road? Federal roads have a "U.S." designation.

 

[The Duke]

The question as to why the estimate is $2 billion but they are passing $8 billion is a good question.

Seems to me they are saying they are passing this to get it built ASAP and will sue the insurance company to get the money back. But that is saying insurance doesn't work which plays into a much bigger argument people are having.

If you pay and pay into insurance but have to sue to get them to pay out when needed, it is not working.

Also, as of now the bill has been stopped.

The CR is dead in the water right now. That's enough of the CR bs in Congress anyway.

 

[shockedcanadian]

The CR is dead in the water right now. That's enough of the CR bs in Congress anyway.

Musk and Vivek are like dogs on a bone. Vivek had already posted on youtube a short clip about some of the fluff long before Elon did.

I just hope Elon is also as active and direct with Trump when he is in office and spending goes off of the rails. Trumps old "I am the debt king" cannot proceed in the current economic situation the U.S is in, thanks to decades of loose funds.

China is driven to bankrupt America. The whole party will be over then without any reprieve for citizens unless you're a billionaire and can move your capital with ease at good rates.

DOGE might save the U.S dollar and save millions of human lives if the world averts WWIII when Americas decline ensures its enemies strike.

 

[pknopp]

Again. It's still in litigation. The Insurance company could take years to pay out.

That's not how it's supposed to work. You are just making excuses.

 

[pknopp]

The CR is dead in the water right now. That's enough of the CR bs in Congress anyway.

I'll bet it passes.

 

[martybegan]

That's not how it's supposed to work. You are just making excuses.

That's how it works. This isn't some auto body shop being paid a few thousand by insurance to fix a fender bender. This is billions of dollars in labor, long lead time materials and engineering.

I am telling you how funding of large infrastructure products work.

If you are a Contractor, and the agency re-building the bridge tells you "the money is coming from an insurance company that is fighting the claim" are you going to spend any money on labor and materials while you are waiting for the courts to settle things.

This isn't politics, this is contract law, government funding project law, and basic economics.

 

[pknopp]

That's how it works. This isn't some auto body shop being paid a few thousand by insurance to fix a fender bender. This is billions of dollars in labor, long lead time materials and engineering.

I am telling you how funding of large infrastructure products work.

If you are a Contractor, and the agency re-building the bridge tells you "the money is coming from an insurance company that is fighting the claim" are you going to spend any money on labor and materials while you are waiting for the courts to settle things.

This isn't politics, this is contract law, government funding project law, and basic economics.

If you aren't going to pay your liabilities without a fight, quit paying them to insure the item.

 

[SassyIrishLass]

2 billion dollars for the bridge and another 6 billion dollars for graft

 

[martybegan]

If you aren't going to pay your liabilities without a fight, quit paying them to insure the item.

You really don't know how the world works, do you?

There are multiple insurers, and some insurances won't pay out for acts of malice.

The cause of the accident has still not been determined.

So the people of Baltimore should wait a decade while all this is fought out?