one that was in texas this week. the anguish does not recede with the waters. it s too early to form the big picture, damage to property and roads. residents of the hardest hit parts are going to be dealing with the after math for a long time. for many it s going to have very serious economic consequence lgs. the catastrophic conditions throughout the southeast of texas ha highlighted an issue that s had an impact on many americans. floods and flood insurance. in the counties hit hardest by harvey, cities of houston, corpus christi, beaumont and port arthur, 83% of homeowners don t have flood insurance. it s not like car insurance, it s no the mandatory unless you live in a high hisk flood zone. the problem for these residents is that their houses aren t in areas that were considered high risk flood insurance. so the problem is that flood
the when congress returns is he going to make a forceful case and put aside some of the brinkmanship that s been associated with such legislation in the past? yeah. well molly, i want to get your reaction. saying relief funding should be tied to the debt limit. how s that going to play out in congress? especially over time, when billion the more are going to be needed. absolutely. it s kind of interesting this storm occurred in texas, key texas senators, one namely, ted cruz, and a handful of conservative texas law makers in the past would have decried this. this didn t want to extend the debt limit. in fact ted cruz in 2012, i believe it was was the one imposed basically the government shutdown over tying monies to debt limit and extending it. but now, there s a situation in which his state was been
because there s no customers to deal with. also all the tourist industry was gone because it couldn t come. it didn t make sense to be there. while houston is much larger, the cost is growing each day. and with some bases unable to open their doors, it stands to hurt residents who can t work. nobody s shopping and nobody s working and nobody s making anything, so as we measure output, for the gross domestic product measures, we ll certainly see a decline in the third quarter because not much will be happening in that area. could be an impact on output for the whole country of two or three tenths of a percent. as cleanup and rebuilding efforts get underway, there is a silver lining. texas economically is a very strong state, and growth has been very strong there. not just in the energy industry, but also in business services and health care and other major sectors, so i think it has a
but their nutritional needs (vremain instinctual.d, that s why there s purina one true instinct. nutrient-dense, protein-rich, real meat number one. this is a different breed of nutrition. purina one, true instinct. we re not going to know a true cost forthat for many years to come as we work together to understand what the communities are entitled to from public assistance or hud community development or reimbursement costs. it takes a lot of time to understand the true costs of this disaster but it s going to be huge. brock long, true words never spoken. texas is just starting to assess the damage left in the wake of the hurricane. there are lots of estimates
fleeing around but we know it s going to cost billions. what about the hit to the local economy? how does that affect houston, even now from corpus christi and towns acities along the gulf of mexico to sprawling houston metro area and east to port arthur and beaumont, the economic impact is bigger than you will might think. when hurricane harry hovered over houston, it didn t just rav age thousands of people s lives, it upended the world s 30 rds largest economy. you are talking billions of dollars. here s what s at stake. texas s home to almost 1 and 12 u.s. workers. houston is the fourth largest city in the country and has one of the highest employment growth rates. 18 fortune 500 companies call houston home but energy is king with more than 5,000 energy related firms. they also boast the largest