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MANHATTAN MOMENT: When disaster aid becomes a bailout

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Colorado's flash floods - which have killed at least eight people this week - are a tragedy. The New Jersey boardwalk fire that destroyed small businesses recovering from Superstorm Sandy was a calamity. But which of these events is a federal disaster requiring taxpayer assistance – and what kind of national assistance is warranted? Part of this question is easy. The feds should step in to help...

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