Dave,
Global warming aside I read an article once that said the west was originally settled during a "wet period" so it gave the orginal settlers a false sense of security. According to this scientist what you have now out there is "normal." Boy that doesn't sound good does it?
Even more scary is I read an article where they were able to determine past droughts and when they happened by taking core samples from a lake bottom, I believe it was in South Dakota. I seem to remember them saying there were periods of a couple hundred years of droughts a few hundred years ago!