Another article about the impact on foreign policy from Katrina. This one written by a former State Department offical, Richard Haas. Here are the money paragraphs:
 

Katrina will also have an impact on how citizens of the United States view foreign policy. The enormous problems and costs associated with the hurricane will raise additional questions about the ability of the United States to "stay the course" in Iraq. The aftermath of the catastrophe will inevitably increase political pressure on President Bush to begin to reduce the U.S. involvement in Iraq and refocus U.S. resources at home, be it on the expensive reconstruction of flood-ravaged areas or on improving the country's capacity to deal with future disasters of this magnitude.                           

Hurricane Katrina has delivered a painful but important warning. In ways similar to the 9/11 attacks four years ago, it demonstrates that U.S. power, however great, is not to be confused with invulnerability. In addition, U.S. power, however great, is still limited. And U.S. power, however great, cannot be taken for granted. In the end, American power is a reflection of the strength of the American economy and the cohesion of American society. Any country must balance what it allocates for guns and what for butter; the United States is no exception. Although we are wealthy enough to fund both, we are not wealthy enough to fund both to the extent we are now doing and to keep taxes as low as they are. Something will have to give.

You can read the whole article here.