Main Question or Discussion Point
I am a bit surprised at this. We need to get a handle on where all of this money is going. They certainly won't spend their money on rebuilding infrastructure as long as we keep spending ours.
WASHINGTON - Iraq is not spending much of its own money, despite soaring oil revenues that are pushing the country toward a massive budget surplus, U.S. auditors told Congress on Tuesday.
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.
"The Iraqis have a budget surplus," said U.S. Comptroller General David Walker. "We have a huge budget deficit. ... One of the questions is who should be paying."
http://www.msnbc.msn.com/id/23578542/Last week, Sens. Carl Levin, a Democrat, and John Warner, a Republican, asked GAO to investigate what Iraq is doing with its oil revenue. The senators estimated that Iraq will realize "at least $100 billion in oil revenues in 2007 and 2008."