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Cost to Fix Flood Defenses Far Exceeds Funding

"The Army Corps of Engineers estimates it will cost more than $2 billion to repair the damage to the nation's levees, dams and riverbanks caused by this year's excessive flooding, a sum that dwarfs $150 million it currently has to make such repairs and that doesn't account for damage from Hurricane Irene or Tropical Storm Lee."

"The Senate is considering a $7 billion emergency disaster relief bill, but only $1.3 billion of that would go to the corps. A competing House bill would allocate $3.7 billion to overall disaster aid, $226 million of it to the corps, although Congress could provide more money in future legislation."

http://www.weather.com/outlook/weather-news/news/articles/fl...