Word: surpluses
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...Iraq Windfall Profits in Iraq? Thanks to soaring oil revenues, Iraq could have a cumulative budget surplus of $79 billion by the end of the year, the Government Accountability Office reported. And yet, of the $67 billion the Iraqi government spent from 2005 to 2007, just 1% went toward infrastructure projects. Senators Carl Levin and John Warner, who requested the report, expressed outrage at Iraq's weak spending record; U.S. taxpayers have spent $48 billion on Iraq reconstruction...
Expenditure Surplus...
Could the Iraq Surplus Shrink...
...government, meanwhile, grossed an estimated $96 billion in revenues from 2005 to 2007, almost entirely from oil. Between $67 another $79 billion in oil revenues is projected for Iraq in 2008 with prices remaining at record levels on the world market. That leaves the Iraqi government with a budget surplus this year of roughly $50 billion, which is managed by the Central Bank of Iraq along with the country's other revenues. Yet Iraq has spent only a fraction of its own money on reconstruction. The GAO report found that the Iraqi government spent just $12.2 billion of its capital...
...Rubin, Larry Summers, Warren Buffett, Bob Reich; experts who seemed a sedimentary layer more recent than McCain's crowd but still more a part of the past than of the future. They had cleaned up the Reagan-era mess. They had actually balanced the budget and created a surplus. They had - contra voodoo - raised taxes and yet produced an economic boom. There was a fair amount of argument behind closed doors, I'm told, between the two groups that sparred at the dawn of the Clinton era, the deficit hawks and the populists. In the end, though, there...