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Iraq piling up oil revenue, but U.S. still pays the bills

missypea

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We're entering a recession and Iraq has a surplus

Iraq isn't spending much of its own money, despite soaring oil revenues that are pushing the country toward a massive budget surplus, auditors told Congress today.

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.

Iraq piling up oil revenue, but U.S. still pays the bills | Chron.com - Houston Chronicle

 
Compound interest. Let them build it up a bank, then maybe they can pay us back, but this noble country never will ask,.
 
I don't suppose anyone else in here remembers this:



Bush on nation building, Iraq, bin Laden
 
Compound interest. Let them build it up a bank, then maybe they can pay us back, but this noble country never will ask,.

Good, I say in the meantime supporters of the war pay the bill. Then we'll see how gracious many of you really are.
 
Good, I say in the meantime supporters of the war pay the bill. Then we'll see how gracious many of you really are.



Right cause thats a good strategy. I'll be happy to if I can also pick and choose wich entitlement programs I pay for as well.
 
Right cause thats a good strategy. I'll be happy to if I can also pick and choose wich entitlement programs I pay for as well.

LOL I say go right ahead, because with the cost of the Iraq War, I'd take entitlements, welfare whatever, compared to what I would have to pay for the Iraq war.
 
LOL I say go right ahead, because with the cost of the Iraq War, I'd take entitlements, welfare whatever, compared to what I would have to pay for the Iraq war.

lol, i aint gonna add it up at this juncture but what is the federal budget without the war, and what is the war budjet. go..............
 
Compound interest. Let them build it up a bank, then maybe they can pay us back, but this noble country never will ask,.
Iraq is in serious, serious debt. I forget the actual #s, but it was in the hundreds of billions. It far dwarfed their pre-war oil revenues (not profits) that ranged around $20bil annually.

If we were to receive compensation from Iraq for invading Iraq we would have to get into the already long line.
 
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I don't suppose anyone else in here remembers this:


Bush on nation building, Iraq, bin Laden

I remember :2wave:

he's such an SOB

They're predicting 4.00 a gallon by summer, money's getting tighter, vets are getting screwed when they come home hurt, people are losing their homes, families are w/o healthcare (the SCHIP gets axed) and Iraq is getting creating a massive surplus............. because our resources are being used to build up Iraq.

GGgggggrrrrrrrr

 
Iraq has a surplus because it too ****ed on a govt to be able to spend it. That's all.
 


Exactly... unless thier debt was forgiven they will need a lot of money to get into the black....
 
Exactly... unless thier debt was forgiven they will need a lot of money to get into the black....


Yup...I guess I'll just keep giving them my money till they can get back on their feet.

I am so glad I chose that option on my W-2.....oh......wait
 
Exactly... unless thier debt was forgiven they will need a lot of money to get into the black....
They have already had a great deal forgiven.

The nature of money today is that debt is a fungible thing. A contracted debt that's owed can be borrowed against or even sold. Some of what Iraq owes has 'already been spent' in a sense by the folks to whom it is owed. That's why there's been no serious talk of Iraq reneging on its foreign debts as large as they may be. the consequences for Iraq would be disastrous - no one would want to invest in Iraq, loan Iraq money, nor do any sort of modern business that relies on credit with Iraq.
 


I actually agree with Bush's axe'ing of SCHIP. The liberals were trying to raise the age of an "adult" to something ridiculous like 27 years old... Not to mention increasing the wage cap that would allow families to use it. It was a very large push toward socialized medicine that liberals thought they could make him do.. cause it "Involved children". Well I for one am glad that Bush veto'd the new legislation.
 
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