Katrina, Rita, and footing the bill

NOAA updates its hurricane forecast. It ain't pretty:

Even though there has already been considerable early season activity (7 tropical storms, with two becoming major hurricanes), most of the activity is still expected to occur during the climatological peak months of August-October. Many of the storms during this period will develop from disturbances moving westward from the west coast of Africa, and will likely form over the tropical Atlantic Ocean and Caribbean Sea in the region between 9°N-21.5°N (black box). Historically, tropical storms that first form in these areas account for 55% of all hurricanes and 80% of all major hurricanes. They also account for nearly the entire difference in hurricanes and major hurricanes between above-normal and below-normal hurricane seasons.

Tropical storms that form over the tropical Atlantic Ocean generally track westward toward the Caribbean Islands and/or United States as they strengthen into hurricanes, and therefore pose an increased threat to these regions. Historically, seasons with above-normal levels of overall activity have averaged 2-3 U.S. hurricane landfalls and 1-2 landfalls in the region around the Caribbean Sea during August-November.

That means 2-3 more hurricanes will hit the United States, not including Rita's eventual landfall.

The news today interspersed storied about Rita with trying to find money to pay for Katrina. I couldn't help but wonder why no one asked the obvious question: How will we pay for the damage that Rita does? And if two more major storms hit the United States (the optimistic view) how will we pay for that as well?

Cutting spending simply won't be enough. If you think things run poorly now, imagine agencies like the Army Corps of Engineers and FEMA with even less money to function with. It's not pretty.

Revenue will have to be raised. Bush will have to sacrifice his tax cuts for the greater good, and he could be seen as a hero by the general public even if conservatives grow to hate him. But it will never happen, and whoever wins in 2008 will have a massive debt to clean up and not much leeway to do it with.