There is a bigger picture: the deterioration of U.S. infrastructure, an investment of past generations that loses value everyday. Lost value comes from its decreased capacity to allow individuals and organizations to do their work or live their lives (which includes protecting them from loss and allow them to generate income) but also from the fact that it will cost increasingly more dollars to rehabilitate or rebuid the infrastructure. This now from the New York Times:
CANTON, Mo. — The levees along the Mississippi River offer a patchwork of unpredictable protections. Some are tall and earthen, others aging and sandy, and many along its tributaries uncataloged by federal officials.
The levees are owned and maintained by all sorts of towns, agencies, even individual farmers, making the work in Iowa, Illinois and Missouri last week of gaming the flood — calculating where water levels would exceed the capacity of the protective walls — especially agonizing.
After the last devastating flood in the Midwest 15 years ago, a committee of experts commissioned by the Clinton administration issued a 272-page report that recommended a more uniform approach to managing rising waters along the Mississippi and its tributaries, including giving the principal responsibility for many of the levees to the Army Corps of Engineers.
But the committee chairman, Gerald E. Galloway Jr., a former brigadier general with the Corps of Engineers, said in an interview that few broad changes were made once the floodwaters of 1993 receded and were forgotten.