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	<title>WorldMojo.com</title>
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		<title>How Big is Iraq&#8217;s Budget Surplus?</title>
		<link>http://watchmojo.com/news/blog/index.php/2008/08/29/how-big-is-iraqs-budget-surplus/</link>
		<comments>http://watchmojo.com/news/blog/index.php/2008/08/29/how-big-is-iraqs-budget-surplus/#comments</comments>
		<pubDate>Fri, 29 Aug 2008 20:35:55 +0000</pubDate>
		<dc:creator>ashkan karbasfrooshan</dc:creator>
		
		<category><![CDATA[Finance &#038; Investments]]></category>

		<category><![CDATA[War &#038; Conflict]]></category>

		<category><![CDATA[Energy]]></category>

		<category><![CDATA[Iraq]]></category>

		<category><![CDATA[USA]]></category>

		<category><![CDATA[Arab States]]></category>

		<category><![CDATA[Occupation]]></category>

		<category><![CDATA[Oil]]></category>

		<category><![CDATA[Violence]]></category>
<category>Arab States</category><category>Energy</category><category>Finance &amp;#038; Investments</category><category>Iraq</category><category>Occupation</category><category>Oil</category><category>USA</category><category>Violence</category><category>War &amp;#038; Conflict</category>
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		<description><![CDATA[Well, it&#8217;s not $100B, as some are saying.  But there are some reports that peg Iraq&#8217;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&#8217;t spent on national rebuilding, [...]]]></description>
			<content:encoded><![CDATA[<p>Well, it&#8217;s not $100B, as some are saying.  But there are some reports that peg Iraq&#8217;s war torn economy with a surplus of $100B:</p>
<p>From <a href="http://www.cbsnews.com/stories/2008/08/06/world/main4326313.shtml" target="_blank">CBS News</a>:</p>
<blockquote><p>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&#8217;t spent on national rebuilding, according to a report by the Government Accountability Office made public Tuesday.</p></blockquote>
<p>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.</p>
<p>It has now cost nearly $600B&#8230; and adding $12B per month! See this <a href="http://zfacts.com/p/447.html" target="_blank">tracker</a> for the rising cost.</p>
<p>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 <a href="http://www.cnn.com/2008/POLITICS/04/09/iraq.oil/index.html " target="_blank">article</a>, and the following <a href="http://www.msnbc.msn.com/id/23578542/" target="_blank">comments</a>: 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 &#8220;at least $100 billion in oil revenues in 2007 and 2008.&#8221;</p>
<p>Any way you dice it, America is being fleeced, and it only has itself to blame, see more in this video:</p>
<p><embed src="http://www.cbs.com/thunder/swf/rcpHolderCbs-prod.swf" width="370" height="361"allowFullScreen="true" FlashVars="link=http://www.cbsnews.com/video/watch/?id=4326344n&#038;releaseURL=http://release.theplatform.com/content.select?pid=j1dBdsVQE02XyeR8CZDmJAqB6tCaWE8_&#038;partner=newsembed&#038;autoPlayVid=false&#038;prevImg=http://thumbnails.cbsig.net/CBS_Production_News/778/529/evening_reid_8608_480x360.jpg" type="application/x-shockwave-flash" pluginspage="http://www.macromedia.com/go/getflashplayer" /></p>
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