Rebuild it, not just yes, but HELL YES. With government funds even.
Why? Well for starters, sentimentality. It's a city that has a special place in our nations history and psyche. Plus it would be nice to think that as a nation, if my hometown were destroyed that my fellow citizens would be caring enough to see it restored to it's former glory.
Another reason: Were the f'ing United States. We have the resources and capabilities to rebuild NO. If we can spend billions "rebuilding" Iraq, we sure as hell can spend billions, trillions, even rebuilding a US city.
And last but not lease, what else would we do with the money. I mean seriously, we spend in excess of $300billion a year on defense in this country. We build weapons which we never use and then have to spend more $$ dismantling them when they get too old. If we spent the money rebuilding NO, at least that money would go towards something, imho, a little more meaningful than guns and bombs. Cause remember kiddies, lots of our defense spending is welfare for rich people. I see there being a hell of a lot more "trickle down" with a rebuilding effort than what is seen from the defense industry.
Just my $.02 + $.03 fuel surcharge.