Transcript for Hurricane Irma will likely be costliest storm in U.S. history
That is a scene in Miami right now. 100-mile-an-hour winds. You see the palm trees swaying. That is not the worst of the storm. That's Miami right now. Miami police waning officers are sheltered in place. They're not able to respond to anyone in trouble. We're going the talk more with with chief business and economics reporter Rebecca Jarvis. The mayor doesn't know what the damage will be like. We know lit cost a lot. If the estimates are right, George, this will be the costliest storm in U.S. History. Hurricane Irma now potentially going to cost $200 billion. Back to back with hurricane Harvey, which could cost as much as $180 billion. Back to back two of the most expensive storms in history. Greater than Katrina, which cost $160 billion. You have to think about the area this storm is tracing. Some of the most populated areas. 8 1/2 million properties in potential risk. The crops. Florida is a place we get Orange juice from. A number of produce products. $1.2 billion in crop damage is estimated right now. Gnat ongoing issue, the fact that there are major gasoline out outages. The fourth largest shipping port in the country is shut down. Getting back to business is going to take a long time. That's even though the biggest city? The state, Miami, getting hit hard by wind. But spared the worst. Spared the worst. But you have this all up and down the west coast now. Gasoline outannals. People have rushed to get out of town. As a result of this storm. But still, you have very likely going to see huge, huge economic implications from the storm. They could really expand into the national economy. It could show up in the gdp figures going forward as well. Nat ewe dowd, ymatthew dowd, you were advising George Bush in the hurricane Katrina aftermath. Many people forget that hurricane Katrina horribly tragic, three weeks later, wee had hurricane Rita. We had two major hurricanes. When you look back, the lessons learned from people by Katrina. And two, how important the likely action and local decisionmaking and local authority is from the city to the state. The two governors, governor Abbott and Scott, have both responded well. The city officials have been all over this pip think secondarily, the president's response. I have to say, mother nature doesn't dwiscriminate and is not partisan. They expect our leaders not the be partisan. President trump has emphasized supporting the local officials. He has. Absolutely. He's been on task. I think in the midst of this when he made the deal on the debt ceiling and FEMA funding, he did it in a bipartisan way. In the midst of the tragedy, this is the best week of the president's Prez zen si. Your dad is there. He's 83. In his closet with mattresses. Holed up. E H knows he'll be there for the next 12, 24 hours. A long day ahead.
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