[Goose]

Re the latest Billionaire Bucket-List Thrills-and-Chills Bragging Rights: Who picks up the tab for the Coast Guard's soon-to-be futile rescue mission? I can't imagine the resources allocated on this caper. All due respect to the CG, of course, but I want to believe that the aggregate net worth of the hapless passenger list might be tapped, somehow/someway. Anyone? Anyone?

The lifesaving and rescue services performed/provided by the Coast Guard have always been delivered without regard to the ability of the target to pay. The funding was assumed to be provided by the taxpayer for the "common good". The cost of searching for a small boat that has issued a "mayday" call is often many. many times more than the worth of the vessel or the ability of those (hopefully) rescued to pay. There have been efforts to create licensing fees that would help "special risk" activities defer the extra costs they require of the Coast Guard to be supported by the users. Generally, that hasn't worked because the potential costs are difficult to estimate and the worst-case costs are enormous. In theory, you could attempt to force such activities to buy insurance policies for their operations that the Coast Guard could "tap into" in the event of a disaster, but nobody will write such policies. The potential liability is too high to make it economically viable. This is very unlikely to change.

[Goose]

Re the latest Billionaire Bucket-List Thrills-and-Chills Bragging Rights: Who picks up the tab for the Coast Guard's soon-to-be futile rescue mission? I can't imagine the resources allocated on this caper. All due respect to the CG, of course, but I want to believe that the aggregate net worth of the hapless passenger list might be tapped, somehow/someway. Anyone? Anyone?

The lifesaving and rescue services performed/provided by the Coast Guard have always been delivered without regard to the ability of the target to pay. The funding was assumed to be provided by the taxpayer for the "common good". The cost of searching for a small boat that has issued a "mayday" call is often many. many times more than the worth of the vessel or the ability of those (hopefully) rescued to pay. There have been efforts to create licensing fees that would help "special risk" activities defer the extra costs they require of the Coast Guard to be supported by the users. Generally, that hasn't worked because the potential costs are difficult to estimate and the worst-case costs are enormous. In theory, you could attempt to force such activities to buy insurance policies for their operations that the Coast Guard could "tap into" in the event of a disaster, but nobody will write such policies. The potential liability is too high to make it economically viable. This is very unlikely to change.