Yes, we definitely need to build water reservoirs. What we'll need to do is cut off the aid to poor states and use that money to build them. Alernatively, we could raise our taxes to build the reservoirs so the destitute states don't end up rioting from lack of food. I do like the way you think though, it is important to fund government appropriately to fund projects that benefit our people and those businesses that choose to do business here.
We are not raising cattle in a dessert, we have actual soil and the cattle are raised on hilly terrain which grows their food naturally. I do take issue with the CAFOs which destroy our environment and produce very low-value and low-quality meat. I buy grass-fed and organic only to support the businesses whose ideals align with mine.
I think the land sank due to the 8-20 years of drought we've been caught up in. It may not recover or it may again raise up as water drains into the underground reservoirs. I do hope we find a way to use our water better, I agree it's a shame we don't do a better job of managing our rainfall.