One of the concerns about climate change is that it may generate more natural disasters such as hurricanes and forest fires.

The federal-government-managed National Flood Insurance Program is $25 billion in debt, stokes moral hazard, and entails a regressive wealth transfer that favors coastal areas.

Uncle Sam is essentially broke. But the federal government keeps spending. The House is voting this week on a measure already adopted by the U.S. Senate to suspend money-saving reforms adopted less than two years ago.