Well, it’s not $100B, as some are saying. But there are some reports that peg Iraq’s war torn economy with a surplus of $100B:
From CBS News:
Iraq could finish the year with as much as a $79 billion cumulative budget surplus as oil revenues add to leftover income the Iraqis still haven’t spent on national rebuilding, according to a report by the Government Accountability Office made public Tuesday.
Technically, I would not trust the GAO, these are the same people that said the war would pay for itself and cost a paltry $50-60B, after all.
It has now cost nearly $600B… and adding $12B per month! See this tracker for the rising cost.
The $100B figures you hear are in fact cumulative 2007 and 2008 oil revenues, with a surplus of around $6.5B, according to this CNN article, and the following comments: 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.”
Any way you dice it, America is being fleeced, and it only has itself to blame, see more in this video:
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