The city of New Orleans

The city of New Orleans is located in a large delta.  There are numerous issues involved in the reasons why the city is under threat of flooding.  Do you feel we should make an effort to save the city from flooding even if it will cost billions of dollars, regardless of what actions are taken.  UPDATE Storm damage 2021: The system around the city seemed to have worked.  However, areas outside were not protected.  Consider the larger area in your answer.