OK, so am I wrong to thing that we need to rebuild New Orleans in another location on higher ground? Last night the President said that "the Federal Government" will be footing the 200 BILLION dollars it will probably take.
First of all, "the Federal Government" has one means of income - taxation (Look here for a great tax plan before the Congress...). So, we, the American people, will be the ones ultimately footing the bill.
Secondly, regardless of who is footing that $200,000,000,000, I would hate to see another cat 5 hurricane come in and flood out the city and us have to pay billions again (not to mention the other devastation to human life).