Katrina is now a Cat 5 Hurricane. As of 4 AM Eastern this morning it had sustained winds of 145 mph. (Update 160 mph) Its only moving at about 10 mph so it will drop an awful lot of rain and a 15-20 foot storm surge.
It will apparently give the Hampton Roads area a wide berth, but New Orleans is in the Bulls Eye. Best of luck to New Orleans and the Mississippi Valley.
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That's amazing!