Japanese earthquake could be most expensive ever
As we continue to pray for Japan, CNN reports that losses from the quake, tsunami and fires could total at least $100 billion, including $20 billion in damage to residences and $40 billion in damage to infrastructure such as roads, rail and port facilities, catastrophe modeling firm Eqecat estimated.
Another firm, AIR Worldwide, estimated that losses covered by insurance could reach between $15 billion and $35 billion from the earthquake alone. It did not estimate losses from the tsunami or the damage to the Fukushima Daiichi nuclear plant in northeastern Japan.
Sounds like a staggering number right? Well compare that $100 billion to our national debt of over $14 trillion and that equals a mere .007% of our national debt.
How’s that for a little perspective?