Thursday, August 7, 2008

This is incredible

While the United States is spending billions to 'help' in the reconstruction of Iraq, that country will have amassed an $80 billion budget surplus over the last four years.

This from CNN:

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.

The United States has spent "about" $48 billion toward reconstruction since 2003.

Rep. Henry Waxman, D-California, said Tuesday's report "is going to make a lot of American families very angry."

Huh, ya think so?

Adding insult to injury is this concluding sentence in the report: The export of crude oil accounted for 94 percent of Iraq's revenues from 2005 to 2007, the GAO reported.

I got nothin' else to add.

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