New Orleans, a decrepit, decaying, dirty old city barely existing tens of feet below the level of the Mississippi river, Lake Pontchartrain, and the Gulf of Mexico, blasted by a fierce hurricane and flooded with beau coup polluted water. Add to the national debt by spending hundreds of billions of dollars to build it back? Why? So the same thing can happen again? I read years ago in a basic geology text book that in 100 years every location on the gulf coast has a 100 percent probablility of enduring a devastating hurricane, one that totally reconfigures the coastline. I'm not sure Katrina reached that level. Possibly, but probably not. Today, in the era of global warming, the hurricanes are becoming fiercer, the levels of the seas higher, and the interval between devastations shorter. In fact, the risk for an even worse storm hitting New Orleans before the end of this year is high. See: http://www.sciencemag.org/cgi/content/full/309/5742/1807
I, for one, think it's a terrible waste of money to rebuild New Orleans. It would make more sense to abandon the site and spend our money building on higher ground away from the coast, perhaps as far north as Memphis. Use government money (and mortgage more of our grandchildren's future) to rebuild the million dollar resort homes and timeshares along the sea coast? Hell no.