Confronted with unprecedented needs that emerged after Hurricanes Katrina and Rita, the American Red Cross has been forced for the first time in its 124-year history to borrow a large sum of money to complete its disaster relief work. The Red Cross set a $2.3 billion fund-raising goal in the aftermath of the two hurricanes, more than twice the amount it raised after the Sept. 11 attacks, but so far, the organization has raised just $1.3 billion. It says an additional $500 million or so is still on the way.
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