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President Bush is touring the flood-damaged streets of New Orleans, during his third visit to the U.S. Gulf Coast since the region was devastated by Hurricane Katrina two weeks ago.
President Bush flew to New Orleans late Sunday and spent the night aboard a naval vessel that brought helicopters to the battered city. Today the president received a detailed briefing on recovery efforts by Coast Guard Vice Admiral Thad Allen, and is now touring the city in a military convoy and meeting with local officials. Later, he heads to Gulfport, Mississippi, where damage by the hurricane was even more extensive than in New Orleans.
Swiss Reinsurance, one of the world's biggest insurance firms says Hurricane Katrina ultimately will cost underwriters around the world 40 billion dollars, twice the original estimate. Including costs borne by governments and expenditures by humanitarian organizations, the storm's total cost could be 120 billion dollars.
The official death toll from the storm now stands at more than 400, but is expected to grow considerably higher. Louisiana officials are complaining that the Federal Emergency Management Agency is not moving quickly enough to provide temporary housing for the some 58-thousand displaced residents still in emergency shelters across the state.
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