There’s no constitutional basis for using taxpayer money to benefit people hit by natural disasters, so in that sense it’s good it didn’t pass. It’s also good because it’s not the government’s job to take money from one group of people (in this case future generations since the money would come through new debt) and give it to another even if it was constitutional. Another reason it’s good is that even if the government had constitutional authority to do this and it was their job to do so, they’d be incredibly wasteful in doing it, so private charity/insurance would a better option. Some may disagree with the last statement, but that’s a matter of personal philosophy.
On the other hand it’s amusing people get bent out of shape on Sandy spending but no one will touch any of the other much more expensive government expenditures.