Actually it is at best misleading and at worst very misleading:
Quote: The Bush Administration cut funding for improvements on the levees
Not the levees that broke (see below).
Quote: to support tax cuts
You act as if Bush said "let's cut this particular program even though I, George W, know it will cause a flood." I think we both know that didn't happen.
I think we both also know that Congress, including the Democratic members from La., didn't do anything to put this money back in the budget.
All the President does is propose a budget. Congress then votes on it. If Bush is at fault, then every member of congress, including the Democrats who didn't fight to put his money back in, are at fault also.
Quote: which benefited the wealthiest 5% of Americans.
The tax cut also benefitted the middle class. From non-partisan Factcheck.org:
nearly 75% of all families [received a tax cut in 2004] from the two tax bills signed into law by President Bush in 2001 and 2002. The amounts vary widely, but the average is $1,217 Even families making only $20,000 to $30,000 a year are getting an average cut this year of $638. And 98.4% of that group -- "middle-class" by almost anybody's standards -- are getting some tax reduction
Quote: When Katrina struck those levees could not hold back the storm surge. They failed. This was a major contibutor to the destruction that befell the City of New Orleans. Had the recommended improvements been made the disaster may have been greatly reduced.
The Chicago Tribune has a story that says otherwise, that the portions that broke were designed and completed prior to Bush ever taking office:
The U.S. Army Corps of Engineers said Thursday that a lack of funding for hurricane-protection projects around New Orleans did not contribute to the disastrous flooding that followed Hurricane Katrina.
In a telephone interview with reporters, corps officials said that although portions of the flood-protection levees remain incomplete, the levees near Lake Pontchartrain that gave way--inundating much of the city--were completed and in good condition before the hurricane.
However, they noted that the levees were designed for a Category 3 hurricane and couldn't handle the ferocious winds and raging waters from Hurricane Katrina, which was a Category 4 storm when it hit the coastline. The decision to build levees for a Category 3 hurricane was made decades ago based on a cost-benefit analysis.
In other words, Bush's tax cuts didn't effect the flooding one damn bit. The part of the levee that broke didn't have any of its funding cut by Bush.
Quote: Since you haven't disputed it, I'll assume you accept it as true.
A better assumption is that a lot of your posts aren't worth responding to. Especially the ones that engage in petty name-calling and school yard taunts.
So, to wrap up: nearly everything you "true statement" is wrong.