How the Budget Affects the Economy and Living Standards: Alan Greenspan on Energy Prices (2005)

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Hurricane Katrina was the eleventh named storm and fifth hurricane of the 2005 Atlantic hurricane season. It was the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. The storm is currently ranked as the third most intense United States landfalling tropical cyclone, behind only the 1935 Labor Day hurricane and Hurricane Camille in 1969. Overall, at least 1,245 people died in the hurricane and subsequent floods, making it the deadliest United States hurricane since the 1928 Okeechobee hurricane. Total property damage was estimated at $108 billion (2005 USD),[1] roughly four times the damage wrought by Hurricane Andrew in 1992. The hurricane surge protection failures in New Orleans are considered the worst civil engineering disaster in U.S. history,[5] and prompted a lawsuit against the U.S. Army Corps of Engineers (USACE), the designers and builders of the levee system as mandated by the Flood Control Act of 1965. Responsibility for the failures and flooding was laid squarely on the Army Corps in January 2008 by Judge Stanwood Duval, U.S. District Court,[6] but the federal agency could not be held financially liable because of sovereign immunity in the Flood Control Act of 1928. There was also an investigation of the responses from federal, state and local governments, resulting in the resignation of Federal Emergency Management Agency (FEMA) director Michael D. Brown, and of New Orleans Police Department (NOPD) Superintendent Eddie Compass. Many other government officials were criticized for their responses, especially New Orleans Mayor Ray Nagin, Louisiana Governor Kathleen Blanco, and President George W. Bush. Several agencies including the United States Coast Guard (USCG), National Hurricane Center (NHC), and National Weather Service (NWS) were commended for their actions. They provided accurate hurricane weather tracking forecasts with sufficient lead time. https://en.wikipedia.org/wiki/Hurricane_Katrina Hurricane Rita was the fourth-most intense Atlantic hurricane ever recorded and the most intense tropical cyclone ever observed in the Gulf of Mexico. Part of the record-breaking 2005 Atlantic hurricane season, which included three of the six most intense Atlantic hurricanes ever recorded (along with #1 Wilma and #6 Katrina), Rita was the eighteenth named storm, tenth hurricane, and fifth major hurricane of the 2005 season. Rita formed near The Bahamas from a tropical wave on September 18 that originally developed off the coast of West Africa. It moved westward, and after passing through the Florida Straits, Rita entered an environment of abnormally warm waters. It rapidly intensified to reach peak winds of 180 mph (285 km/h) on September 21. After steadily weakening and beginning to curve to the northwest, Rita gradually weakened and made landfall between Sabine Pass, Texas and Holly Beach, Louisiana with winds of 120 mph (195 km/h) on September 24. It weakened over land and degenerated into a large low-pressure area over the lower Mississippi Valley on September 26. In Louisiana, the storm surge from Rita inundated low-lying communities near the coast, worsening effects caused by Hurricane Katrina less than a month prior. The surge topped levees, allowing water to surge further inland. Lake Charles suffered from severe flooding. Areas in Texas suffered from extensive wind damage. According to an October 25, 2005 Disaster Center report, 4,526 single-family dwellings were destroyed in Orange and Jefferson counties located in Southeast Texas. Major damage was sustained by 14,256 an additional single-family dwellings and another 26,211 single-family dwellings received some damage. Mobile homes and apartments also sustained significant damage or total destruction.[1] In all, nine counties in the state were declared disaster areas after the storm. Electric service was disrupted in some areas of both Texas and Louisiana for several weeks. Texas reported the most deaths from the hurricane, where 113 deaths were reported, 107 of which were associated with the evacuation of the Houston metropolitan area. Moderate to severe damage was reported across the lower Mississippi Valley. Rainfall from the storm and its associated remnants extended from Louisiana to Michigan. Rainfall peaked at 16.00 in (406 mm) in Central Louisiana. Several tornadoes were also associated with the hurricane and its subsequent remnants. Throughout the path of Rita, damage totaled about $12 billion (2005 USD, $15.4 billion 2015 USD). As many as 120 deaths in four U.S. states were directly related to the hurricane. https://en.wikipedia.org/wiki/Hurricane_Rita