The officials in New Orleans have also spent money on building a casino and improving the Convention Center. They haven't spent a cent on improving the levee system in years.
They keep saying it's Bush's fault, but they wouldn't take money THEY had and ask for matching federal grants...they wanted the feds to pay for the entire deal. That's not how it works.
Well, there's an investment well made... Somehow I've got a feeling 5 days of urine (not to mention Geraldo hanging around) probably offset any improvements those funds would have yielded.