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Hurricane Losses May Top $100 Billion

U.S. economic forecasters say total losses from Hurricane Katrina's devastation could top $100 billion.

In terms of insurance losses alone, industry forecasters say they are estimating payouts to be around $25 billion. Insurance adjusters say they will have a clearer picture of the damage when they are able to enter New Orleans and other Gulf of Mexico coastal cities.

They say losses are likely growing by tens of millions of dollars each day in New Orleans as water damage becomes worse, sporadic fires continue to burn and looters ravage the city.

President Bush has signed a $10.5 billion emergency spending bill for the hurricane area, and said more relief will be needed. He has also appointed his father, former President George Herbert Walker Bush, and former President Bill Clinton to coordinate private fundraising efforts.