The Associated Press is reporting President Bush will request $51.8 billion in additional emergency relief funding for Hurricane Katrina from Congress. As the cost of the Federal Emergency Management Agency's daily operations in the Gulf Coast climbed to over $700 million, it became clear the previous emergency supplemental approved last week for $10.5 billion would not last long. The request could be approved by Congress as early as tomorrow. The second supplemental request will include $1.4 billion for the military and $400 million for the Army Corps of Engineers, which is working to repair breaks in the levee system around New Orleans. The remaining $50 billion will go to FEMA. This is unlikely to be the last emergency funding for this disaster, as Congressional leaders and recovery experts are expecting the total damages to cost upwards of $150 billion. In addition, yesterday, the Congressional Budget Office (CBO) released a report examining the economic repercussions of Hurricane Katrina to Congressional leaders. The CBO found the economic effects of the disaster could be as severe as a one-percentage point drop in econonmic growth and the possible loss of up to 400,000 jobs by the end of 2005.