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Budget surplus - 8/6/2008 3:08:53 AM

Level

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......in Iraq.

quote:

WASHINGTON (CNN) -- Iraq is raking in more money from oil exports than it is spending, amassing a projected four-year budget surplus of up to $80 billion, U.S. auditors reported Tuesday.

Leading members of Congress, noting that Washington is paying for reconstruction in Iraq, expressed outrage at the assessment. One called the findings "inexcusable."

"We should not be paying for Iraqi projects while Iraqi oil revenues continue to pile up in the bank, including outrageous profits from $4-a-gallon gas prices in the U.S.," said Sen. Carl Levin, the chairman of the Senate Armed Services Committee. "We should require that U.S. taxpayers be reimbursed for the cost of large projects."

Baghdad had a $29 billion budget surplus between 2005 to 2007. With the price of crude roughly doubling in the past year, Iraq's surplus for 2008 is expected to run between $38 billion and $50 billion, according to a report from the U.S. Government Accountability Office.

http://www.cnn.com/2008/POLITICS/08/05/iraq.oil/?iref=hpmostpop

< Message edited by Level -- 8/6/2008 3:09:14 AM >

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Post #: 1

RE: Budget surplus - 8/6/2008 5:54:19 AM

pahunkboy

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never heard of the place...

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Post #: 2

RE: Budget surplus - 8/6/2008 6:05:03 AM

Sanity

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Some on the Left found justification to call this success story inexcusable or outrageous, but I find it encouraging. Iraq is looking like a success story more and more, and it's obviously not going to be a bottomless money pit for us forever. Good for them! I hope really they get their shit together and become the next Japan-style success story.

quote:

ORIGINAL: Level

......in Iraq.

quote:

WASHINGTON (CNN) -- Iraq is raking in more money from oil exports than it is spending, amassing a projected four-year budget surplus of up to $80 billion, U.S. auditors reported Tuesday.

Leading members of Congress, noting that Washington is paying for reconstruction in Iraq, expressed outrage at the assessment. One called the findings "inexcusable."

"We should not be paying for Iraqi projects while Iraqi oil revenues continue to pile up in the bank, including outrageous profits from $4-a-gallon gas prices in the U.S.," said Sen. Carl Levin, the chairman of the Senate Armed Services Committee. "We should require that U.S. taxpayers be reimbursed for the cost of large projects."

Baghdad had a $29 billion budget surplus between 2005 to 2007. With the price of crude roughly doubling in the past year, Iraq's surplus for 2008 is expected to run between $38 billion and $50 billion, according to a report from the U.S. Government Accountability Office.

http://www.cnn.com/2008/POLITICS/08/05/iraq.oil/?iref=hpmostpop

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Post #: 3

RE: Budget surplus - 8/6/2008 6:11:37 AM

Owner59

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Could it be that it`s b/c oil is 14-15 times more expensive than it was before the war started?

Iran is getting pretty rich too, as well as the rest of our "friends",.......in the region (Saudi Arabia,etc).

That 700 billion we`re sending/spending overseas, is going somewhere.....

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Post #: 4

RE: Budget surplus - 8/6/2008 6:20:49 AM

Cuffkinks

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Yeah, great. The next time there's any type of disaster here in the states, we'll see how much financial aid we get from them. The lives of the US soldiers lost during this clusterfuck are worth more than any amount.
You know what...Don't get Me started.

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Post #: 5

RE: Budget surplus - 8/6/2008 6:25:59 AM

NeedToUseYou

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If they were smart they'd buy one of the big US banks, while they are still relatively cheap, that would buy them more influence over US policy than anything else they could do with the money.

Learn from the middle east countries we don't attack, or threaten.

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Post #: 6

RE: Budget surplus - 8/6/2008 10:08:58 AM

Termyn8or

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Hell, maybe if Iraq took over the US we would be better off. If the oil was in the US the politicians would probably sell it all to China. Companies are already shipping all our scrap metal there at an alarming rate.

It has gotten to the point where some cars, even running, can be scrapped for more than they could be sold for as a running vehicle.

Then a bunch of the money is going where ? Remember another phrase "Follow the money". China could damnear dictate US policy, but they like it just how it is. They know those Tbills are going to be worthless eventually. They just consider it a little bit of welfare. When we default, will they start a war over it ? no.

Iraq is our biggest faux pas thusfar. Whatever happened to the doctrine of the spoils of war ? Our heroes in bombers pushed the button to kill those cowardly children. We own what they have, by the law of the land. It is called The Trading With The Enemy Act.

If you are going to have a war, call it a war, quit pussyfooting around and stealing our spoils to enrich your friends. Find me a candidate who will do that and I will vote. Call it what it is, quit lying.

This surplus is just one of those "success stories" that the republicans will use to get the votes. And if it is in US dollars, it might be worth alot less soon. That's why Saddam switched to euros. That was the right decision in his position.

But most people only see it from "our" perspective.

T

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Post #: 7

RE: Budget surplus - 8/6/2008 10:17:36 AM

popeye1250

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U.S. Taxpayers shouldn't be spending *ANY* money rebuilding Iraq after 30 years of neglect by Hussein!
It's time for Iraq to start paying us back!

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Post #: 8

RE: Budget surplus - 8/6/2008 1:00:58 PM

Raechard

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Anyone know what the budget surplus was before the invasion. As I recall they seemed to be doing well on what was supposed to be the oil for food programme so maybe that is the only true benchmark for comparison.

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Post #: 9

RE: Budget surplus - 8/6/2008 2:49:36 PM

Vendaval

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And those profits need to paying for the rebuilding of Iraq, not the American tax payers!

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Post #: 10

RE: Budget surplus - 8/6/2008 4:06:37 PM

seeksfemslave

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I saw this news item and was tempted to comment but I didnt, but now I will.
During the arguments that have raged on CM over the Iraq invasion many posters have claimed that the US "only did it for the oil".

If they were right, how do they explain the wealth accruing to the current Iraq regime ?
Only arskin.

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Post #: 11

RE: Budget surplus - 8/6/2008 4:28:07 PM

Sanity

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I am in full agreement with you. They could even pay us back some and I wouldn't say no.

quote:

ORIGINAL: Vendaval

And those profits need to paying for the rebuilding of Iraq, not the American tax payers!

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Post #: 12

RE: Budget surplus - 8/6/2008 4:30:34 PM

christine1

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Iraq should at least be taking some responsibility for themselves and paying for things. i can't even say what i want to here it makes me so irritated.

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Post #: 13

RE: Budget surplus - 8/6/2008 4:49:40 PM

Vendaval

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There are several articles at this site related to your query, seeks.

"US Advised Iraqi Ministry on Oil Deals"

By Andrew E. Kramer

New York Times

June 30, 2008

"A group of American advisers led by a small State Department team played an integral part in drawing up contracts between the Iraqi government and five major Western oil companies to develop some of the largest fields in Iraq, American officials say.

The disclosure, coming on the eve of the contracts’ announcement, is the first confirmation of direct involvement by the Bush administration in deals to open Iraq’s oil to commercial development and is likely to stoke criticism. In their role as advisers to the Iraqi Oil Ministry, American government lawyers and private-sector consultants provided template contracts and detailed suggestions on drafting the contracts, advisers and a senior State Department official said."

http://www.globalpolicy.org/security/oil/2008/0630advisors.htm

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"Beware, the woods at night, beware the lunar light.
So in this gray haze we'll be meating again, and on that
great day, I will tease you all the same."
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http://KinkMeet.co.uk

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Post #: 14

RE: Budget surplus - 8/6/2008 5:00:14 PM

Sanity

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Its not a surprise nor a secret that the United States State Department has been providing help and advice to the Iraqi government. The fact that "Western oil companies" might some day help to develop some or all of Iraq's oil fields does not mean that the U.S. is stealing Iraqi oil as you and globalpolicy.org so darkly insinuate. Just the fact that the New York Times article isn't directly linked to should raise a few red flags, and I've read that article - it says absolutely nothing about America or Americans stealing Iraqi oil in any way, shape or form.

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Post #: 15

RE: Budget surplus - 8/6/2008 6:44:51 PM

Owner59

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Funny,we cause their demise and kill a half million of their civilians and now we`re going to bill them for the trouble.

Reminds me of that creepy practice, where the communists would shoot someone in a firing squad and then send the victim`s family a bill for the bullets.

It takes an awful lot of hubris, gall and cruel neglect to do all that damage and then expect not only to escape responsibility for it,but to actually ask the victims to pay the bill.

What nerve.

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Post #: 16

RE: Budget surplus - 8/6/2008 6:46:32 PM

christine1

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huh, guess my nerves are shot.

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He's the "boom" overwhelming...

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Post #: 17

RE: Budget surplus - 8/6/2008 6:50:40 PM

Termyn8or

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Hold on thar. First of all Saddam did not neglect Iraq. Their infrastructure might not have been quite what we have, but it was working. They had electricity, television, water, that is until we came along.

They were also selling to countries who did not participate in our sanctions, otherwise why switch to euros ? After 1991 when we destroyed a good piece of their oil infrastructure, they were not happy about that.

In fact Saddam planned to drive the dollar down after the switch to euros, and that is exactly what I would do in light of the bombings and the sanctions. US forces siezed BILLIONS out of Iraqi banks, and it was all in US dollars. They would have flooded the market and the dollar would be worth probably around what it is worth today, but sooner.

The neocons were stupid not to let it happen, then they would have a bad guy. They could even claim that to attack our economy in that way can be considered an act of war. But the way they did it, they got the money, and they really didn't need it.

As George Carlin put it; we got shitty politicians because we got shitty people. Those suits have only one thing on their mind, quarterly profits. They are stupid compared to the Chinese, Isrealis, Arabs, about half of Europe, Russia, Iceland, the list goes on. Sometimes it seems that they think only five seconds into the future. Others think long term, and that is why they are not starting trouble.

Another point though, is that most of them would see the true cost of war should they wage it. Unlike us who seem to have a credit card with no limit.

Even after 1991 Iraq was doing pretty well. They had schools and hospitals and roads.

People have a big misconception about pre-war Iraq. And if you want to show me pictures of certain places in Iraq where people lived like animals and had nothing, I shall have to point you to the streets of some of our US cities. Under some bridges, things like that. But our infrastructure is working. A foreign power did not come and destroy it.

And if the need is so great in Iraq and they just sit on all that money, then it is the people we installed who are neglecting Iraq. In fact we installed Saddam in the first place. Remember the Iran-Iraq war ? Remember what we called hostages when Iran siezed our embassy there ?

Remember Oliver North ? We have been stirring that pot long enough. Money would have been good enough, so oil really wasn't the reason. I'll not say the reason in the open forum. But it is true.

The truth does come to he who waits, but he must remember. If one does not remember history, no matter what you post or cite is nothing but a disconnected fact. But if you remember you can see the pattern, and you can then arrive at conclusions not impelled by Fox news.

People have very short memories, that is the problem.

T

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Post #: 18

RE: Budget surplus - 8/6/2008 6:51:51 PM

Owner59

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Nooo...

Do tell...

As someone who voted for the retard that got us stuck in this present day Viet Nam,I `d like to hear your thoughts on things as they stand now.

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Post #: 19

RE: Budget surplus - 8/6/2008 6:53:53 PM

christine1

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um, i never stated i voted for bush. you do love to ASSume and put words into peoples mouths don't you?

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i am woman! er, godzilla! hear me roar!

http://wavcentral.com/cgi-bin/log/log.cgi?id=2856&sound=/sounds/movies/godzilla/roar.mp3

He's the "boom" overwhelming...

He is my Master, my lover, my best friend my everything.

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Post #: 20

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