This Douglas Brinkley essay is a few days old but still a very important read. Here's a taste:

  Over the past two years since Hurricane Katrina, I've seen waves of hardworking volunteers from nonprofits, faith-based groups and college campuses descend on New Orleans, full of compassion and hope.
  They arrive in the city's Ninth Ward to painstakingly gut houses one by one. Their jaws drop as they wander around afflicted zones, gazing at the towering mounds of debris and uprooted infrastructure.
  After weeks of grueling labor, they realize that they are running in place, toiling in a surreal vacuum.
  Two full years after the hurricane, the Big Easy is barely limping along, unable to make truly meaningful reconstruction progress. The most important issues concerning the city's long-term survival are still up in the air.

Thanks to Hilzoy for the link.