CBO Says Sandy Aid Will Take Years To Spend

Billions and billions and billions ...

Early estimates by the Congressional Budget Office indicate that only about a third of the emergency disaster aid package for Hurricane Sandy will spend out in the next 21 months, a finding which could fortify Republican resistance to quick enactment.

The White House late Friday submitted a $60.4 billion request weighted heavily with community development and transit funding to help states like New York and New Jersey recover. And the Senate Appropriations Committee is rushing to be in a position to go to the floor late this week or early next week.