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Source: news.yahoo.com --- 71 days ago
AP - Iraq is paying for more of its own reconstruction but is still struggling to spend its multibillion dollar Surplus as it copes with a flood of oil revenue and a cumbersome approval process meant to curb corruption, U.S. officials said Wednesday. ... Source: abcnews.go.com --- 71 days ago
US officials in Baghdad defend multibillion dollar Iraqi Budget Surplus. ... Source: www.moreover.com --- 71 days ago
BAGHDAD -- Iraq is paying for more of its own reconstruction but is still struggling to spend its multibillion dollar Surplus as it copes with a flood of oil revenue and a cumbersome approval process meant to curb corruption, U.S. officials said ... Source: www.npr.org --- 70 days ago
The U.S. government says that Iraq has tucked away billions of dollars in oil revenue since 2005. But the country's badly damaged infrastructure is still mostly propped up by U.S. funds. James Glanz, the New York Times Baghdad bureau chief, discusses where the money's going and why some officials are crying foul. ... Source: www.economist.com --- 1 day ago
Iraq's government struggles on The launch of the country’s first post-war oil licensing round is evidence of a government increasingly determined to press on with economic development, against the political and bureaucratic odds. When it emerged in a report by the US Government Accountability Office in August that Iraq had amassed a Budget Surplus in 2005-07 of some US$29bn, while the American administration had disbursed some US$48bn towards reconstruction since the 2003 invasion, there was predictable outrage among certain congressmen—calling for the Iraqi government to deploy more of its own revenues towards capital spending. However, the problem is less a desire on the part of the Iraqis to sponge off hard-pressed US taxpayers rather than an investment programme hampered at every point by political infighting and labyrinthine bureaucratic processes. Yet, in economics as in security, Iraqi politicians are eager to wrest back control of their own destiny. ... ... Source: www.newsday.com --- 70 days ago
BAGHDAD (AP) _ Iraq is paying for more of its own reconstruction but is still struggling to spend its multibillion dollar Surplus as it copes with a flood of oil revenue and a cumbersome approval process meant to curb corruption, U.S. officials said Wednesday. ... Source: thinkprogress.org --- 70 days ago
As reported in this morning’s New York Times and Washington Post, a new report from the Government Accountability Office states that the Iraqi government could have “a cumulative Budget Surplus of as much as $79 billion by year’s end”: For 2008, GAO estimates that Iraq could generate between $73.5 billion and $86.2 billion in total revenues, [...] ... Source: www.oversight.house.gov --- 68 days ago
According to data from the Energy Information Administration, from 2003 to 2008 U.S. consumers will have spent between $70 billion and $74 billion to buy Iraqi oil, the same amount Iraq has amassed as its Budget Surplus, according to GAO. ... Source: www.buzzflash.net --- 2 days ago
Bush predicted a Budget Surplus for 2004, but he actually set a new US deficit record instead. Also on this date, a new estimate of the "massive" number of Iraqi dead due to Bush's invasion, and an ex-Reagan official details Bush's bad job in dealing with the Russians. ... Source: www.jacksonsun.com --- 70 days ago
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Source: www.politicswest.com --- 70 days ago
With primary election day just six days away and candidates... read more ... Source: www.welcometowallyworld.com --- 28 days ago
I've just come across this article by renowned American economist Joseph Stiglizt who argues "Why is America paying for the reconstruction of Iraq when billions of Iraqi petrodollars remain in their foreign accounts?" Good question. One answer might be "well you guys broke the country, so you can repair it". I'm talking about the invasion of Iraq - because that's what it is. It was never a war . Americans like to think the invasion of Iraq was part of the so-called war on terrorism which is a bit like the war on drugs - unwinnable and a complete waste of resources. I note that idiot Sarah Palin said the Iraq war was God's Will . Hmmm...maybe it was also God's will that the U.S. should continue this unsustainable occupation and rebuilding? Have a read of this - Is this any way to rebuild Iraq? The country has a huge Budget Surplus. Why isn't it paying for its own reconstruction? By Linda J. Bilmes and Joseph E. Stiglitz August 15, 2008 Across the Middle East, from Abu Dhabi to Yemen, the dizzying rise in oil prices has fueled a construction and employment boom. Yet in Iraq, one-quarter of the population remains jobless, and Baghdad gets only 11 hours of electricity a day. Four million Iraqis have been displaced from their homes and are urgently in need of resettlement. After five years of war, the country is still desperately in need of rebuilding. It's not that Iraq has failed to share in the oil windfall. Iraq sits atop the world's t ... Source: kentondems.blogspot.com --- 67 days ago
Bruce Lunsford issued this press release yesterday: Statement from Bruce Lunsford Regarding Iraqi Budget Surplus LOUISVILLE – U.S. Senate candidate Bruce Lunsford expressed outrage today after reading published reports that the Iraqi government will amass a whopping $79 billion Budget Surplus by the end of the year from oil profits. Only a small percentage of the Surplus is being spent on reconstruction costs with the American taxpayers paying for the bulk. “Iraq is running up billions of dollars in surpluses, while American soldiers are risking their lives and the American taxpayer is footing the bill,” Lunsford said. “George W. Bush and Mitch McConnell should quit writing a blank check for Iraq and instead focus on our urgent needs at home. While we’re busy building bridges in Iraq, roads and bridges are in urgent need of repair and replacement here in Kentucky.” According to a recent GAO report, U. S. taxpayers have spent about $48 billion to rebuild Iraq since Fiscal Year 2003. $23.2 billion of that money went toward security, oil, electricity and water projects. By comparison, from 2005 through April of this year, the Iraqi government spent only $3.9 billion on similar projects. Additionally, much of the Iraqi Budget Surplus is held at the Federal Reserve Bank of New York. That deposit is so large that the United States has paid $435.6 million in interest payments to Iraq through the end of 2007. “The Iraqi government must be held ... Source: www.newsmediatube.com --- 69 days ago
“The Iraqi government now has tens of billions of dollars at its disposal to fund large-scale reconstruction projects,” Sen. Carl Levin said in a statement. Should they fund themselves from now on? Of course they should — at last — after all, no other nation has cost US taxpayers as much as Iraq over the [...] ... Source: nexpatriates.blogspot.com --- 61 days ago
Remember all those votes in Congress authorizing billions of dollars to fund the Iraqi War? Yeah, I thought so. Remember gas prices hitting $4.50/gallon? You do? How about the estimated $410 billion deficit for the 2008 fiscal year? OK, maybe you don't know about that because no one is talking about it these days, but it's still there. Now how's this for some irony - the government of Iraq has an $80 billion Budget Surplus. Seems all that oil money is just piling up and they don't know what to do with it. Prime Minister Maliki was out on the streets of Bagdad passing out money to people on the streets. Really! Anyone have a suggestion what else he can do with that money? ... Source: nightukplay.seo-blog.org --- 43 days ago
By JAMES GLANZ and CAMPBELL ROBERTSON Soaring oil prices will leave the Iraqi government with a cumulative Budget Surplus of as much as billion by year’s end, according to an American federal oversight agency. Posted by Arik Hesseldahl on August. Meetings typically are booked at least three years in advance, giving hotels a [...] ... Source: www.politicalbloviation.com --- 57 days ago
Iraqi Budget Surplus | The Daily Show With Jon Stewart | Comedy Central Let’s hear more about this from the media and the Obama campaign. ... Source: www.mnblue.com --- 63 days ago
While it probably isn't comforting to know that Sen. Norm Coleman is doing a better job providing for Iraq than Minnesota, the news that Iraq could likely have an $80 billion Surplus shows what happens when the US government decides to prop up a country's economy. Even Republican Faux News agrees. Iraq could finish the year with as much as a $79 billion cumulative Budget Surplus as oil revenues add to leftover income the Iraqis still haven't spent on national rebuilding, according to a report by the Government Accountability Office made public Tuesday. ( Faux News ) Wouldn't it have been great if we wouldn't have spent all those billions and billions of dollars on Iraqi Reconstruction? Yes, it would. That is where oversight of the reconstruction process would have made a difference. As Chair of the Permanent Subcommittee on Investigations, Norm Coleman could have made that difference. Now Norm, that Republican Champion of Oversight (i.e., sharpest spoon, tallest midget, etc.) wants to rescind about 2% of what he voted to give them over the years, $1 billion. read more ... Find more results for Iraqi Budget Surplus on RSSMicro.com |
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WASHINGTON -- Michigan Senator Carl Levin is blasting President Bush over the announcement on changing troop levels in Iraq and Afghanistan. The Democratic Chairman of the Senate Armed Services Committee says the president's rejection of setting timetables for future reductions doesn't go far enough in taking pressure off the Iraqis. Levin has long been critical of the President's handling of the war. He's also recently called for less financial assistance for the Iraqi government, saying they've racked up 80-billion dollars in Budget Surplus from oil revenues, while the American taxpayers fund reconstruction efforts. ...