I mention this only because it's been discussed:
When it comes to New York/New Jersey subsidies and the flood insurance discussion (two separate topics) you can actually combine them to indicate that New York/New Jersey already receive massive subsidies by way of the National Flood Insurance Program (NFIP).
For example, I have a chart in front of me from NFIP showing total number of flood insurance policies in effect as of 9/30/11 by state:
1) Florida - 2,069,735
2) Texas - 665,740
3) Louisiana - 492,817
4) California - 267,990
5) New Jersey - 230,708
6) South Carolina - 201,963
7) New York - 164,203
I also have a chart from NFIP showing the total number of flood insurance claims from 10/1/10 throgh 9/30/11 by state:
1) New Jersey - 22,033
2) New York - 20,323
3) Pennsylvania - 10,486
4) North Carolina - 9,391
5) Connecticut - 4,116
7) Louisiana - 2,758
8) Florida - 2,038
29) California - 272
31) Texas - 238
Finally, I have a chart from NFIP showing total claim payments from 10/1/10 through 9/30/11 by state (in thousands):
1) New Jersey - $494,959
2) New York - $395,762
3) Pennsylvania - $248,541
4) North Carolina - $137,183
5) North Dakota - $87,764
10) Louisiana - $37,632
16) Florida - $12,423
31) California - $2,510
35) Texas - $1,345
Florida issues about 9x as many flood policies as New Jersey and 12.5x as many flood policies as New York, yet has a claim incidence 11x and 10x lower, respectively, and a claims payment rate 40x and 32x lower, respectively.
If that's not subsidization I don't know what is.