[ex-Texan]

No. You are incorrect. The new Bankruptcy Act changed everything. People cannot just walk away from their debts and hurricane wrecked houses. Not today. Thank Congress. Both parties joined in the fun. Do not blame Bush, because it's not his fault. But the Democrats will point their fingers at Bush anyway.

[conservative cat]

Looks like some are pushing for a one year moratorium for Katrina victims: http://www.mercurynews.com/mld/mercurynews/12583955.htm

Not really fair for people who are hit by future disasters, though.

If both parties were unemployed, they would be able to file, still, since they would be under the median income. I think house prices are too much in some areas and the bubble might burst. In other areas, where they are more modest, I think they will be fine.