Transcript for Dowd: This is probably 'best week' of Trump presidency
That is the scene in Miami right now. Look at those winds. That's not even the worst the state is going to face. We'll talk more about the fallout and the impact with our chief economic correspondent Rebecca Jarvis and Matthew dowd. Also FEMA administrator from 2009 to 2017. Rebecca we heard senator Rubio said Florida has never seen anything like this. When a state gets hit so hard, the economic fallout immense. And the human devastation our number one focus but long term this economic consequence is going to be grave. It's going to be massive. If the estimates hold as they stand today, Irma will be the most expensive storm in history. Estimated at $200 billion in damage and when you couple that with hurricane Harvey it's a one-two punch. Hurricane Harvey could be the second most costly in history. Those assessments still coming in. That would put both of them more expensive than hurricane Katrina. As we have been hearing in the field all day long, this is a highly dense, highly populated area where the storm's path is heading. So you have got 8 1/2 million properties in the path of this storm. You have millions of people now without power. You have gas outages. This is a kind of thing that's going to take a long time to clean up from. Like the human cost, there is so high. What happens with the economy, you're taking money out of the economy but also rebuilding will pump it back up. Exactly. In general what happens in a hurricane as you have the near term long but the longer term gain but when you look at the storms back to back many believe you're going to wait to see rebound until early next year. There's been a big boom in a lot of the areas, especially along the west coast of Florida, Tampa, Cape Coral, ft. Myers, a huge amount of new building and all is now in the risk. Matt dowd, you were advising the white house during hurricane Katrina. George Bush pretty seamless team work between state workers and the local government. Unfortunately the lessons always learned seem to be in the aftermath of tragedies and people forget after hurricane T Katrina, hurricane Rita came. Mother nature isn't par San to this. I think the biggest difference is the local leaders, state and local officials that show up in a much different way in a much more forewarned way and have an expectation that the federal government are respond. We saw president trump emphasizing his support for the site and local leaders. I think if you look at this and president trump has had difficulty, this is probably the best week of his presidency. He's shown up, been responsive. He's been there and come to the table with all the things he needs to do. I think you have to give president trump a very good grade in the mirdst and how he's responded to this. There's going to be a challenge for the entire political system. No one knows how the government will deal with this. It's going to be exceedingly costly and I think what the president did on the debt ceiling and the funding so far is the direction the American public wants him to go. Let's bring in Craig who ran
This transcript has been automatically generated and may not be 100% accurate.