• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

Waxman: U.S. Consumers ‘Fueling’ Iraq Budget Surplus « The Washington Independent

Following Tuesday’s ugly GAO report that revealed Iraq doesn’t spend its oil money on reconstruction, Rep. Henry Waxman (D-Calif.) told Condoleezza Rice in a letter (pdf) that the U.S. can’t keep providing the cash for rebuilding.

The letter cites a new Department of Energy report that says U.S. consumers will spend about $70 billion this year on oil exported from Iraq, approximately the same amount the GAO estimates Iraq’s 2008 budget surplus could climb to.

But as the GAO found, instead of going toward rebuilding the country, this huge surplus goes into accounts in various banks. The Iraqi government has spent less than $1 billion in the past year on training or weapons for security forces and infrastructure projects like electric grids and running water.

Meanwhile, the U.S. has spent $48 billion building infrastructure in Iraq and trying to establish and maintain the country’s security. So Waxman is arguing that the U.S. taxpayer is paying the Iraqi government twice: once when they pay for gas and again when they pay their taxes.

As the New York Times reminded us yesterday, Paul Wolfowitz promised in 2003 that Iraq oil money would finance the rebuilding. Five years later, it seems we might be at a point where this finally, sort of makes sense. But it will require a significant a shift in the roles played by both the U.S. State Department and Pentagon, as well as the Iraqi ministries.

Discussion & Comments (0)

    Recent Articles

    • Things You Should Know about North America

      Things You Should Know about North America

      Get to know more about North America.

    • Eurovision 2010 Paula Seling Unpredictable Contest

      Eurovision 2010 Paula Seling Unpredictable Contest

      Paula Seling's experience on the Eurovision stage led her to declare that "Eurovision is an unpredictable contest". Which may explain the success of the young Lena from Germany, about whom the predictions before the event did not offer much chances for victory.

    • VIPRow.me - The Best Sports Streaming Website Today

      VIPRow.me - The Best Sports Streaming Website Today

      Have you ever contemplated creating a user-friendly site dedicated to sports-related free live streaming channels?

    • Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      XNXUBD 2022 Nvidia users are able to watch thousands of videos and other contents online. XNXUBD 2022 Nvidia New is a piece of software that enables people to watch videos online without having to pay for memberships. On a graphics card, the XNXubd also provides some of the best gaming and virtual reality experiences.

    • Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      A new edition of the Video Editor Apk for xVideostudio.Video Studio has all the latest features, including support for multiple video download formats in HD, FHD, and even 4K resolutions.

    • 9 Best Lotion For Masturbation - Popular Choice For 2022

      9 Best Lotion For Masturbation - Popular Choice For 2022

      Masturbation is a common activity for men and women. It's a natural and risk-free way to explore your body, experience pleasure, and release sexual tension.

    • Reasons Why You Need To Stop Watching Movies From Sflix

      Reasons Why You Need To Stop Watching Movies From Sflix

      Without having to sign up or pay anything, you can watch movies online for free with SFlix. It has more than 10,000 movies and television shows.

    • Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Collins (born May 11, 1997) is a rapper from the United States. Leray started publishing songs to SoundCloud in 2014, and in 2018 she released her breakthrough track "Huddy" as well as her first mixtape, Everythingcoz.

    • Listen And Download Music On MyFreeMP3 For Free

      Listen And Download Music On MyFreeMP3 For Free

      Are you in a bind and looking for a place to obtain free mp3 songs? Never again will you need to bother, since this article has everything necessary to obtain your solution. Download free music from MyfreeMP3.com, one of the world's most popular websites.