Posted on 03/11/2008 4:49:05 PM PDT by bahblahbah
But U.S. still investing billions in rebuilding, facing squeeze at home
WASHINGTON - Iraq is not spending much of its own money, despite soaring oil revenues that are pushing the country toward a massive budget surplus, U.S. auditors told Congress on Tuesday.
The expected surplus comes as the U.S. continues to invest billions of dollars in rebuilding Iraq and faces a financial squeeze domestically because of record oil prices.
"The Iraqis have a budget surplus," said U.S. Comptroller General David Walker. "We have a huge budget deficit. ... One of the questions is who should be paying."
(Excerpt) Read more at msnbc.msn.com ...
This just shows that the Bush administration has no clue. And this will sink the GOP in the fall.
While this comes from MSNBC, I still believe that with the price of OIL, Iraq has to be doing pretty well.
So why are we still spending $billions of US taxpayer funds to rebuild THEIR stuff? How about the Iraqis start picking up their own tab for THEIR OWN rebuilding...
If this is factual, then it’s time the people of Iraq start carrying some of their own weight.
It is time for them to be paying their own way. Especially now that they are pumping nearly 3 million barrels of oil a day - nearly $300 MILLION each day coming in.
Iraq should pay the bill from here on out. If they want the US Army to stick around they should pay. It would not be setting a precedent in the ME.
US Firms should be getting lion’s share of the reconstruction contacts. That solves two problems - stabilize and rebuild Iraq and business opportunity for US firms.
Maybe they can buy all those Boeing refuelling tankers....and lease them back to the USAF at a $1.00 a year each.
The possibility of significant Iraqi oil exports is the only light I see on the horizon for oil. Just as the inflow of Kuwaiti oil was delayed in the 90’s until after Bush 41 left office, and Clinton became President, it looks like the influx of Iraqi oil will be delayed until after W leaves office.
The Dems always luck out on that. Bush 41 set the conditions for the 90’s economic boom. Clinton got the credit.
Because they might not build it the way we want it.
What a disaster Iraq is, with its huge difficult-to-spend surplus. What else could possibly go wrong?
it’s time the people of Iraq start carrying some of their own weight.
Absolutely. But in the long run, prosperity and democracy in Iraq require that the government depend on taxes rather than on oil revenue independent of the people. And that implies that the government divest itself of the oil revenue, paying royalties to the people.IMHO it was a blunder to allow Iraq to remain in OPEC. That Iraq should produce oil for the world market at market clearing price without monopolistic production limitations is the very least that the people of Iraq owe us. I would have Iraq's oil production and transport broken up into competitive entities each of which has the incentive to maximize its own long-run revenue by producing at the maximum sustainable rate.
If this is indeed true, I'd expect the administration to sandbag it until later in the year. So, when Hilary! or Obama start talking smack about Iraq, some hidden good news can be unveiled.
A few hundred full tankers running in a continuous loop, round-the-clock to the US would be the obvious start. Politicians are too stooopid to consider the obvious.
How about having that huge Iraq surplus paying us back... at least sell us oil at a huge discount? It’s all about appeasing the liberals with the Bush administration not getting back oil.
Absolute scandal that we are not having the total cost of our operations in Iraq paid back using oil revenues.
Bush is a pussy. Look at how he pathetically groveled before the diaperhead "Royals" and now is sending Cheney to beg as well. Disgusting.
They should be selling us oil at bargain basement prices. Enough of George Bush’s notion that we’re the sugar daddy who bails everybody out and gets nothing in return. Billions dumped down the drain in Africa and elsewhere to rescue suffering humanity. Are we going to be thanked for it? Forget about it.
If he’s trying to earn eternal salvation, why doesn’t he just join a church with an active missions program and let the American taxpayer off the hook?
Could be why Cheney is there and McCain is soon heading there.
Could be why Cheney is there and McCain is soon heading there.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.