Honestly, bringing politics into natural disasters is like bringing a bucket to prevent a house from flooding. FEMA dropped the ball, which is the Director's fault, not the president.
As soon as this thing clears,and depending on how they turn out, it will be politicized. No doubt about that.
Mc Cain ans Obama's campaign temas are to be paying attention as we speak, and should be thinking right now on how to use this. Think about this: If it turns out horrible, it will be "more of the same," and it will be a huge blow on the republican's campaign, and if it doesn't it will be a huge plus.
Probably the bodycount will be reduced (here's hoping), but as for structural damage I'm not sure. The city has had it pretty rough since last time, and from what I gather, things don't look too bright.