The U.S. government has systematically tracked the economic effects of natural disasters through NOAA's Billion-Dollar Weather and Climate Disasters database since 1980. This information has been crucial for state and local governments for effective budgeting and planning related to disaster recovery. Recently, the administration announced the retirement of this database, leading to concerns among policymakers and experts about the future of economic assessments following major disasters. In a recent discussion, Adam Smith, the program's architect, reflects on its significance and what the future may hold for disaster economic evaluations.
State and local governments relied on NOAA's database for budgeting and planning, which has now been retired, creating uncertainty in economic assessments for disasters.
Adam Smith, the architect of NOAA's Billion-Dollar Weather and Climate Disasters program, discusses the impact of retiring the database on future economic evaluations.
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