Billions in damages and not enough in the bank account — that's where federal officials find themselves in the aftermath of Hurricane Sandy.
The White House says it will send an emergency funding request to Capitol Hill this week — expected to be $50 billion to $60 billion. Top administrators told Congress on Wednesday that they want at least some of that money to go toward preventing the kind of devastation caused by Sandy and other recent storms.
Political leaders from the Mid-Atlantic and Northeast have not been shy about their intent to seek as much federal funding as possible for their storm-struck states. Damages and lost economic activity as a result of Hurricane Sandy have been estimated as high as $50 billion.
Gov. Andrew Cuomo, D-N.Y., wants $30 billion in federal assistance to help rebuild his state. This request, and others, come at a time when Congress is already consumed with reducing the deficit.