Iraq May Have $79B Budget Surplus

GAO Finds Oil Prices Bolstering Iraq's Treasury, As Some Ask Why U.S. Taxpayers Keep Supporting Reconstruction

(AP)  The Iraqi government could end the year with as much as a $79 billion budget surplus as ever-increasing oil revenues pile on top of leftover income the Iraqis still haven't spent on their national rebuilding effort, congressional auditors say.

A report by the Government Accountability Office made public Tuesday prompted renewed calls from senators that Baghdad pay more of the bill for its own reconstruction, which has been heavily supported with U.S. funds.

The projected Iraq surplus, including unspent money from 2005 through 2008, has been building because of rising world oil prices, increasing Iraqi oil production, the government's inability to execute budgets for spending its money and persistent violence in the country, the GAO said.

The report was requested by Democratic Sen. Carl Levin and Republican Sen. John Warner, the chairman and ranking member, respectively, of the Senate Armed Services Committee.

"The Iraqi government now has tens of billions of dollars at its disposal to fund large-scale reconstruction projects," Levin said in a statement. "It is inexcusable for U.S. taxpayers to continue to foot the bill for projects the Iraqis are fully capable of funding themselves."

"It is time for the sovereign government of Iraq, using its revenues, expenditures and surpluses, to fully assume the responsibility to provide essential services and improve the quality of life for the Iraqi people," Warner said.

The GAO said Iraq had an estimated cumulative budget surplus of about $29 billion from 2005 to 2007 and could have another surplus of up to $50 billion this year.

The expected surplus could be lower if Iraq passes stalled legislation for a $22 billion supplemental budget for 2008 - and if the government then executes the budget.

But the report noted oft-repeated factors holding the government back on its spending plans.

"First ... (the) relative shortage of trained budgetary, procurement and other staff with the necessary technical skills as a factor limiting the Iraqi government's ability to plan and execute its capital spending," the GAO said, adding that a second problem is the government's weak accounting systems.

"Third ... violence and sectarian strife remain major obstacles to developing Iraqi government capacity," it said.

The report also estimated that this year Iraq could generate $67 billion to $79 billion in oil sales. Other U.S. officials previously had said they expected the oil windfall to be about $70 billion.

"This substantial increase in revenues offers the Iraqi government the potential to better finance its own security and economic needs," the GAO said.

Since 2005, the United States has funded a number of efforts to teach civilian and security ministries how to effectively execute their budgets.

The efforts included programs to advise and help Iraqi government employees develop the skills to plan programs and to effectively deliver government services such as electricity, water and security.

[cyberus-2009]

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GAO Finds Oil Prices Bolstering Iraq''s Treasury, As Some Ask Why U.S. Taxpayers Keep Supporting Reconstruction
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Because the Iraqi government is not stupid enough to award no bid contracts to Halliburton and its subsidiaries, so someone has to make sure W, Darth Cheney and company continue to pad their retirement funds for as long as possible.

[micma-2009]

GAO Finds Oil Prices Bolstering Iraq''s Treasury, As Some Ask Why U.S. Taxpayers Keep Supporting Reconstruction


Because Iraqis would rather hire their own people to do the work of reconstruction. The whole thing is just a big way for Bush to give American tax dollars away to Halliburton and his other friends. Iraqis can pay their own bills and do a better job of rebuilding their own country.

[oneamerican_]

"Iraq May Have $79B Budget Surplus"

The good news just keeps getting better.

This means that the Iraq government will likely find a way to share oil profits with the 18 provinces in the country, since now there is money to be shared. And that means America won''t have to pay for their reconstruction projects.

It''s all working out, just as fast as it should.

Of course, the liberals here at home try to make this "bad news", but really - who cares what liberals think anymore? They''ve lost their War on America, so their credibility is right out the window.

[pirmin3]

GW and co. can still fleece the tax payers. Iraq is too smart to let that happen. That means towel head much smarter than Amerikan voter. LOL

[shanev137]

Iraq never asked us to come in and destroy their country in the first place.

[mljohns00]

Obviously, Iraq should pay for its own reconstruction. It''s not like the U.S. invaded them, destroyed their country, and caused the deaths of hundreds of thousands of Iraqis. Heck, let them pay for the rebuilding!

[occams_taser]

There are between 4 and 5 MILLION Iraqi refugees. It''s horrible that neither the Iraqi govt nor the US govt (which is responsible, legally) have lifted a finger to help them. The number of Iraqis admitted to the US would fit in about two busloads.

[closethippy1]

The US should pay for most of the reconstruction just to follow international law but you''ve got to wonder why the Iraqis are not putting some of the 79b to good use.
Are some people saving some of the money for themselves and their friends?
That kind of money can corrupt even the most saintly and that''s why the US needs to make sure that everyone in Iraq shares the profits from oil and not allow some kind of "confederation" setup to divide Iraq so more money goes to one particular group over the others.
Otherwise, there''ll never be peace in Iraq.

[downtowner97]

I''ll tell you why we''re still paying the bill. The Iraqi government isn''t about to hire Bush and Cheneys'' buddies for reconstruction, and Bush and Cheney aren''t done making money off their war yet.

[brianbwb-2009]

"Get your facts straight fool." Posted by corey2444

The facts are straight, Iraq did not ask us to invade.

However you view Saddam, what he did with his own country was none of our business, and certainly no justification for what we did to them, but since Bush intentionally "broke it", with the support of people like yourself, it is only right that he fix it, with money from people like yourself.

[stn_sage]

GREAT! I''m glad they''re making money off their oil!

So, obviously they''re going to start paying back the money they owe to the United States for war costs, correct?!

And Congress is going to see to it by directing the Chief Executive, so to act, correct?!

Well, I wouldn''t bet that either proposition will come to pass, because it''s not Bush''s plan to help America, and it''s not Congress''s to stop him!

Bottomline: America''s eroding!

[radiob-2009]

All things considered, our involvement in the destruction of Iraq''s infrastructure our illegal war, the Iraqis are responsible for a large portion of the reconstruction of their nation, Saddam spent lavishly on "manshions" and little on anything that benefitted the Iraqis, then the Iraqis themselves have through their lack of unity, coheseiveness have contributed to further destruction of their nation. Time for them to start picking up the tab. Do we owe them for what we did, yes but not for what they did to themselves.

[brianbwb-2009]

"Do we owe them for what we did, yes but not for what they did to themselves." Posted by radiob

Agreed, but the current state is the money we are now spending there is totally unnecessary, costs for the logistics of our continued unnecessary occupation, marked up exponentially by the war profiteers.

If we pull the troops out, there will be no more reason to spend such, and there will certainly be lawsuits in the future, once the facts of Bush''s lies are all officially dealt with.

At this time we should file the criminal charges, and start seizing some of Bush''s assets, as well as those of the war profiteers, to prepare not only for this eventuality, but also to recover as much as we can, the money his lies cost us.

[alphaa10-2009]

Any of the Bible-thumping GOP bozos whose favorite epithet is "fool" should avoid becoming one, himself...

The passage from Matthew says it all--

"Ye have heard that it was said by them of old, ''Thou shalt not kill,'' and ''Whosoever shall kill shall be in danger of the judgment.''"

"But I say unto you, that whosoever is angry with his brother without a cause shall be in danger of the judgment; and whosoever shall say to his brother ''Raca,'' shall be in danger of the council; but whosoever shall say, ''Thou fool,'' shall be in danger of hell fire..."

[alphaa10-2009]

The Iraqis want us out of their country, and have said so all along. This is completely understandable, whatever lame, implausible excuse for attack and occupation certain GOP posters may try to offer.

Bush''s "pre-emptive" invasion had no credible basis. Saddam posed no threat to this country, although Bush lied his best to persuade us he did.

Saddam did possess oil, however, and Bush deceived the American people and risked American lives to obtain access to that oil for his friends- the same monopoly that attacks America at the oil pump every day.

Bushscam-- the illicit invasion of Iraq-- is the biggest political scandal in US history. It is also an impeachable offense against the Constitution to which Bush took an oath to protect.

Bush is the individual who, in November, 2005, facing an assembly of his own party members critical of his NSA spying program, bristled like a teenager caught drinking after curfew-- "Stop throwing the Constitution in my face! It''s just a GD)((#@*! piece of paper!"

Is this figure, who claims to be president of the United States, the same who pledged an oath to "protect, preserve and defend" the document he calls a "GD)((#@*! piece of paper"?

[oneworldusa]

So, is THIS when Iraqi oil begins to repay us for ''rescuing'' the country and rebuilding it?

[tbweb]

When you consider that Pres. Nixon resigned over a office break in at Watergate, it still amazes me that Pres. Bush can stay in office after all of this:

Republicans are responsible for their current political lack of trust! Republicans controlled all 3 branches of government, Republican mismanagement, overspending, corruption, losers Scooter Libby, Alberto Gonzales, Donald Rumsfeld, good job Brownie!, and the list is long and distinguished of aids dismissed by the Bush administration including the fabled Karl Rove who was in charge of the Justice Department by default since `I don`t recall Gonzales let Rove run it!`, the Political hit job on U.S. Attorneys, failure to show up for Congressional subpoena`s, outing CIA agents, Outsourcing U.S. Port Security to Dubai, Halliburton no bid Defense Contracts, Gingrich sponsored Contract `ON` America!, Hurricane Katrina failures, lost WH emails, prisoner torture, Abu Garib prison atrocities, Iraqi oil will pay for the war (lol), Calling Katrina victims Refugees!, cherry picked intelligence to invade Iraq, Osama bin Laden still loose making videos, George Allen`s `Macaca` racial slur in broad daylight!, fighting the war in the wrong country, over 4000 U.S. war dead in Iraq, false reading into Russian Putin`s soul, Republican S`e`x scandals with White House Pages, G`a`y Larry Craig (R) convicted bathroom toe tapper!, and as you can see you need a database to track it all!

[brianbwb-2009]

"Instead of continuing to rubber stamp Bush''''s every crime." ST

We had a discussion about certain words we want to hear from our candidates, I completely agree that "I will restore the rule of the constitution" (paraphrased) is absolutely vital to the determination of America''s future.

However, I believe that another sentence to be just as important,

"I will seek to have those who committed the worst crimes against Humanity in this still young 21st century brought to justice, and the fruits of their crimes returned to the American people".

I believe that the US economy will not naturally recover from the losses incurred by these criminals.

[briledden]

The American middle class deserves our crappy economy, the huge cost of the Iraq war, and the sacrifice of our military. Why? Because the average American voted for our current leadership. The American middle class has been dumb enough to vote for a party that only serves the wealthy (Republican). Obviously those same idiot middle class people who voted for Bush felt that abortion rights/school prayer/gay marriage were all more important than voting for leadership that would keep our economy strong and keep us out of unnecessary wars. Stupidity deserves every bit of punishment, and may the punishment continue with rising gas prices, inflation, foreclosures, unemployment, etc.

[condumbism]

Why U.S. Taxpayers Keep Supporting Reconstruction?

Lets ask John McCain, who would rather fvck over the US taxpayer instead of admitting Iraq had nothing to do with terrorism. John McCain: UNSTABLE LYING FASCIST jinGOPig!

[danstoned]

John McCain, putting Corporate America first, the US taxpayer last! Want a 3rd Bush term? then vote with your head up your lily white fatass, vote John McCain!

[condumbism]

John McCain, born in the country of Panama, then raised in the 1950s in the Southern White Trash racist State of Mississippi. IT DOES NOT GET ANY LOWER THAN SOUTHERN WHITE TRASH John McCain.

[donttreadme]

Hahahahah - Stupid Americans. You put your own nation trillions in debt in order to give Iraq a $100 billion surplus. LOL That''s hilarious and does not even speak to the fact that you sent 4000+ of your own soldiers to die, tens of thousands more maimed, and 500,000 civilians dead. It would be funny if it were not so sad for the families of your soldiers. You have chosen your leaders and you have chosen badly.

[danstoned]

Thank the Gods that I am not a dumbed down conservative. My family heritage was Repiblicon, but I was fortunate enough to get an education and break the family mold. I will never forget that my mom said the she voted Republicon because "they were good enough for my daddy, so they are good enough for me." That was 35 years ago, and nothing has changed since for those that vote Republicon (mindless fools that have no right living in a participatory democracy, ie: FACSISTS!)

[donttreadme]

YOU DO NOT LIKE THE USA IN THE MIDDLE EAST,,,

BLAME THE DEMONIC-RATS.

Posted by terrorislamv at 03:34 AM

Hahahahaha! You see how stupid you Americans have become? LOL You are always yelling and talking tough although you are intellectually dishonest and need to keep things simple for you lazy minds. Very sad. Here is a stupid American blaming others for his own party''s failures. Do you Americans really believe this? LOL Wow - you are dumber than we thought.

[condumbism]

Europeans gave their lives to defend themselves from Fascism from 1915 to 1945. Today Republicons are the new world fascists, which is why the entire world laughs at US for not learning from the past. Afterall, a country that forgets its past, has not future, ie: the USA!

[danstoned]

Posted by terrorislamv
you are dumber than we thought.

Southern White Trash sums up terrorislamv perfectly.

[donttreadme]

Posted by terrorislamv at 03:53 AM

America haters bore you to tears eh? Were you bored after 9/11? Are you bored when you read that Iraq which hates you has a budget surplus when you are 7 trillion in debt thanks to your sacrifice of 4000+ soldiers and countless wounded? Does that bore you? You Americans really have become lazy and stupid. LOL

[condumbism]

Today, throughout the Confederate South Rebels continue to fly the Confederate Flag as though it shows some sort of allegience to whatever. Homeland Security needs to classify all of these Rebs as enemy terrorist combatants, round them all up and throw away the key to never again give these Rebs access to America. John McCain saluted the Confederate Flag in the 1950s, John McCain is a TERRORIST!

[swwils]

Well it seems like Iraq needs to cough up some dough,to the USA,or some cheap oil.Either will suffice.We liberated them and are re-building their country,at least they can do is fork over some oil.I really don''t want all those soldiers to sacrificed their lives and limbs for a vanity fair.Bush don''t give two cents about the troops,or their spouses or loved ones only the oil,and revenge for Daddy.The next Prez will have too deal with Iran,and Syria,and will not have time to squabble with Iraq.We should just unleash Israel upon Iran before they build that nuke they are so desperately working on.If Russia gets in the way maybe they would like Moscow to be like Chenyrbo,since they are suppliers of the centrifuges to Iran.

[danstoned]

Posted by terrorislamv
I am an admitted piece of Southern White Trash!

Your Ralph Limbaugh cultist POS would be proud!

[shameonbush]

I would REALLY like to know the names of all of the Republicans in this country that seemed to benefit a great deal financially from this war based on LIES. Of course I also would REALLY like to know just why Bush/Cheney/Rumsfeld are still at large. WHY AREN''T they in prison? We need to make examples of them and prosecute them for lying to the American public in order to profit by an unneccesary war. I would like to press charges against Bush and Cheney for lying to millions in order to profit and help those involved in oil. They pose a great danger for us. Republicans must never gain power again. PRAY FOR IMPEACHMENT.

[jediservant]

If we stop sending our American tax dollars then they will have to use their money. That was so simple even a Fifth Grader could figure that one out.

But then again, I am not so sure our President, Senators, and Congressmen are smarter than Fifth Graders.

[ajmarine111]

PRAY FOR IMPEACHMENT.


Posted by shameonbush at 04:38 AM : Aug 06, 2008


Pelosi: Impeachment ''off the table''

RAW STORY
Published: Monday October 23, 2006


Print This Email This


In an interview with CBS''s 60 Minutes, House Minority Leader Nancy Pelosi (D-CA) pledged that impeachment of President George W. Bush was off the table should Democrats gain a majority next month.

Pelosi speculated that Republicans would "just love" the "waste of time" such proceedings would be. "Making them lame ducks," she concluded, "is good enough for me."


Nancy says it''s not going to happen.

[whatinthewld]

PRAY FOR IMPEACHMENT.
Posted by shameonbush

Impeachment ??? Why?

[whatinthewld]

Mr. Bush is no different than any of our other recent presidents. They were involved in wars.......they increased our deficit........The deficit is not all Bush''s fault. We have had dozens of Presidents and dozens more of candidates promise that they would reduce the deficit, but every one has put us farther in debt.
Food for thought,.....if we demand more benefits from the gov''t will that affect our deficit? Is it the Dem or the Rep promising more government payouts? Where is that money going to come from?

[whatinthewld]

Do you guys really believe that the twin towers existed? They didn''t really. It''s all made up by Mr. President Bush.
He just wanted to give his opposition something to talk about.

[patriot12436]

It is time Iraq started reimbursing us for the cost of the war. They benefit from it, we don''t.

[ajmarine111]

It is time Iraq started reimbursing us for the cost of the war.

Posted by patriot12436 at 05:18 AM : Aug 06, 2008


It''s time for them to start doing a lot of things.

We have given them a chance to be free of Saddam and they need to decide if they want to be a nation of Iraqi''s, find another Dictator to rule them, or let Iran take them over.

It''s their choice and I wish they would hurry up and make it.

[marshall_nee]

Posted by terrorislamv at 04:52 AM : Aug 06, 2008

Yeah right Lars. We have no right to intervene in the internal affairs of Sovereign Nations, unless they themselves violate the sovereignty of other Nations.

[danstoned]

John McCain: not yet ready to lead a Cub Scout Wolf Pack. John McCain: bought and payed for by Corporate America! John McCain: the reason why the US Congress is broken!

[jjp735i]

In the end Congress will hold hearings and find no one at fault(once again),then do nothing.

"The Iraqi surplus has piled up even though the country''s oil production has only recently matched prewar levels, according to the Brookings Institution''s latest Iraq Index."

How much more do we, the tax payer, have to pay to fund Bush''s lie?

[Gary Kempf]

Its further proof that Our Government is filled with corruption and we need to completely clean D.C. of those who won''t protect the U.S. taxpayer from those that only seek to benefit themselves or Corporations...... How much of that 79 billion is actually the U.S dollars our Government sent over and lost???? Several (elected) ***** needs to be kicked for this mess!!!

[emelder]

Perfect example of how Bush thinks ... and where his policies end up!

[jankvkleve]

As long as American taxpayers pay the bill, American contractors (all friends of Bush/Cheney) get the money. From the beginning, this was about moving large sums from the public purse to the arms suppliers, engineering firms, oil companies, etc., who support Bush. That''s how his father and British prime minister, John Major, ended up on the payroll of the Carlyle Group after the first Gulf War. Same group of buddies, same rip-off of the taxpayers during Bush, the sequel.

[jankvkleve]

As long as American taxpayers pay the bill, American contractors (all friends of Bush/Cheney) get the money. From the beginning, this was about moving large sums from the public purse to the arms suppliers, engineering firms, oil companies, etc., who support Bush. That''s how his father and British prime minister, John Major, ended up on the payroll of the Carlyle Group after the first Gulf War. Same group of buddies, same rip-off of the taxpayers during Bush, the sequel.

[tapsettle]

Hang on a minute. If I went around someones house, smashed it up, killed some of the occupants, and it turned out my stated reasons for doing so (they had bombs aimed at me) were not true, wouldnt the very LEAST thing that I could do be to pay for the damage and help repair the place? Personally I think the US must fix and pay for the country they have smashed up, and the ringleaders ought to go to jail for the killings too.

[advanceus]

Plus they have the oil!!! *** happens.

[tapsettle]

And what about those who say the iraqis aren''t doing enough, that they must meet ''benchmarks''? Not just republicans saying that either. How can anyone with an ounce of decency and even only half a brain blame the iraqis for the mess their country is in now?

[omnibus66]

''The GAO said Iraq had an estimated cumulative budget surplus of about $29 billion from 2005 to 2007 and could have another surplus of up to $50 billion this year.''

And we are still spending more than 2 billion per week there, as well as getting more of our kids killed and maimed.

Makes me want to puke, right in Bush''s face.