The greatest danger is the politicians getting into a bidding war over who's going to be the most compassionate with our money. With respect to the damage, we've been taking and recovering from these things for eons, this is essentially just multiple itterations of those prior recovery efforts. Most states and cities have large reserve funds built into their budgets for precisely this purpose, and the private insurance sector provides a massive amount of help. State Farm's disaster team, for just one example, is larger than the entire staff of FEMA. So if the politicians can just control themselves, we'll be fine. Sadly, that's a pretty low probability 'if.'
I'm pretty burned out on pondering the long term consequences of disasters - we'll be dealing with it soon enough, whether we want to or not.
Sorry, Armsted, I do not have the same faith in the process that you have, but how I hope you are right, and I am totally out to lunch.
I see history as cyclical, alas. And, I am therefore depressed. Probably because I read "The Fourth Turning", and I think this is the trigger.
We are in for an interesting 20 year ride. Hang on folks, for it will be a real cliff-hanger.
With everyone trying to one-up each other for 2006 it's going to get nasty. The President hasn't given them anything to hoist him on (like Clinton) and they are desperate. Desperation is a terrible thing to watch.