U.S. Comptroller: "The Iraqis have a budget surplus...We have a huge budget deficit"

[sabra]

http://www.iht.com/articles/ap/2008/03/11/america/US-Iraq.php

WASHINGTON: Iraq isn't spending much of its own money, despite soaring oil revenues that are pushing the country toward a massive budget surplus, 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."

U.S. officials did not give a figure as to the likely surplus. They said Iraq's lack of spending is due primarily to Baghdad's inability to determine where its money is needed most and how to allocate it efficiently. Two senators have called for an investigation into the matter.

[jody]

1. All the more reason to withdraw our combat force leaving only air and logistics support. n/t