Word: slowness
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Ahmed Basim Mohammed al-Abaje is understanding about slow salary payments from the Iraqi government. He and other citizens of Baghdad are beginning to realize that the Iraqi government is running low on cash owing to the global financial crisis. "There have been some delays, but we did not have to wait too long for pay," says Abaje, a member of the volunteer Sunni watchmen-fighters known as the Awakening in the Baghdad neighborhood of Mansour. But Abaje, like scores of other Awakening members across Iraq, worries that the pay may dry up altogether. "If the government wanted...
Other sources of revenue have gone dry or are about to. Foreign investors have been slow to spend in Iraq because of the violence and huge uncertainty surrounding the security situation following the U.S. drawdown going forward this summer. U.S. reconstruction funds are dwindling as American troops move to go. And Iraq at present cannot sell government bonds on the international market without risking them becoming entangled in a myriad of reparations lawsuits related to Iraq's invasion of Kuwait...
...small, if the recession drags on the odds that the government will have trouble raising money to finance the deficit will rise. To keep its credit rating, the American government will be faced with curtailing many of its stimulus programs or sharply raising the tax burden. Either action could slow any recovery making a burgeoning deficit a "Catch 22″ in which no alternative is acceptable...
There are now slow-moving inquiries by the Senate judicial and intelligence committees as well as Representative John Conyers' proposal for an investigative commission with subpoena power, currently being considered by the House Armed Services Committee. Meanwhile, Leahy's staffers say the Senator is trying to build bipartisan support for a commission. But he's had little support from Republicans, and the congressional recess will likely slow his efforts. The break may have the same effect on Republican calls - from former Speaker Newt Gingrich to Representative Pete Hoekstra - for investigations into Pelosi's claims...