Is a Category 3 Hurricane on the way to New Orleans?

A Hurricane is headed to New Orleans. The storm is about five days out now and could easily switch directions by the time it hits landfall. However if this Hurricane does hit New Orleans what happens? Do we spend billions of dollars to try and rebuild again? Do we declare the area off limits for permenant residency? How will the President respond? Will the levies break again? Will FEMA be able to handle the situation? Will people in the city be able to get out before the hurricane hits? If their able to will they? If their not able will Mayor Nagin use the buses to get people out of town? Will Governor Jindal handle the emergency better than Governor Blanco did? I'm going to pray that we don't need to answer any of these questions. Hurricanes are very unpredictable and there is no way of being sure of where it will hit. However after taking a look at this map, it doesn't look good.

http://weathermachine.files.wordpress.com/2008/08/at200807_5day4.gif