EO Newsroom: New Images - Flooding in New Orleans

Click here for the comparison of New Orleans before and after the hurricane and levee breaks. It's no tsunami, but damn, it looks bad. I've been hearing months and billions to rebuild. Seems like it might be cheaper to rebuild the stuff that doesn't have to be there in some other location. New Orleans has sunk to the piont wehre its 20 feet below sea level in some places. Is it time to give up on New Orleans?