The oil was supposed to pay off the debts plus reconstruction. My how great plans change.
Expect the US taxpayer to pick up tab eventually. How much money have we poured into Iraq in total since 2003?
There was never any plan for Iraq to pay all 120 billion. Right after the war James Baker began working on this visiting all the Paris Club members plus some of the Arab countries. If there's any hope of Iraq making it at all most of Saddam's debt has to be forgiven.