Sunday, October 26, 2008

Iraq Confused on How to Spend Gigantic Financial Surplus...??!



From Lexi Chase

Apparently Iraq has a huge financial surplus due to the money they bring in from oil... so much in fact, that they do not know how to spend all of it. Yes, according to an article on FoxNews.com entitled "US Trains Iraqi Bureaucrats on How to Spend Oil Riches," Iraq has a cumulative surplus of approximately $79 billion from "oil revenues and unspent funds from previous budgets." This is a concern for US tax payers because, why, if Iraq truly has a gigantic surplus, are we handing over around $12 billion dollars a year for the Iraq project? Why aren't they using THEIR money to fund the necessary operations such as reconstruction? According to the FoxNews article, there are 2 main reasons.
First of all, Iraq has a past of money being scarce, especially while being punished by the UN Security Council for Saddam Hussein's 1990 inasion of Kuwait. And even then, the majority of the people who delt with money were not who are in those positions now.
Secondly, and most importantly... [hense the title of this article]... the people who deal with the finances simply DON'T know what theyre doing! Iraq suffers from being terribly out of the loop when it comes to developing at the same speed as the "international community." As a result, there is an abundance of inexperienced bureaucrats in place. *However* the US is stepping in by hosting training seminars for the "money people" of Iraq. The main goals are to prepare these people for future decision making, and to increase Iraq's OWN spending to aid in its OWN reconstuction process (their reconstruction spending efforts are supposed to increase by 50% to $19.2 billion by 2009). Basically, Iraq can more than handle its issues, we just need to stop taking over, and instead allow THEM to make their own choices. But for now, the first step is the training...
http://www.foxnews.com/story/0,2933,443954,00.html

and PS, the above image has little relevence.... just that it's a giant spider attacking a bird. So watch out...

2 comments:

bhowell said...

I just want to let you know that I thoroughly appreciate the randomness of the the spider vs. bird image... nicely done.

Anonymous said...

that is the most scariest pic ever!!