WASHINGTON — The National Flood Insurance Program is so deep in debt that not even an "exponential increase" in flood insurance premiums would solve its fiscal problems, according to the top administrator at the Federal Emergency Management Agency, which oversees the program.

FEMA's deputy associate administrator, Roy Wright, told a House Financial Services subcommittee Thursday that the agency is now $24.6 billion in debt and is borrowing from the U.S. Treasury to cover the interest payments.

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