ForumGarden

I am not saying in any way at all ,any thing about Obama and I am not trying to blame him ,I am using his campaign 'speech' more as a time line .





During his campaing the 'then-candidate Barack Obama' was heard complaining that the US was spending billions in Iraq while the Iraqi government sat on a projected $70 billion surplus.



Obama Still Wrong About $79 Billion Figure | The FactCheck Wire





And he was 'called' to the carpet for his complaining , It was said that his projection didn't account for updates to the Iraqi's budget.





Obama’s Iraqi Accounting Oversight | The FactCheck Wire





On paper, Iraq’s budget showed a surplus of up to $57 billion, but the US Gov. Accountablity Office pointed out that the Iraqi gov. had shown little ability to spend all that it had budgeted. So, assuming history repeated it's self, a $79 billion surplus was a reasonable projection.

History did repeat it's self , just not as expected.





Iraq forced to cut spending as oil price falls | World | Chron.com - Houston Chronicle





It was reported that revenue shortfalls have forced Irac to slash the budget by over $25 billion .

the projected surplus didn't happen. Now it's being said the Iraci gov. may not have enough to cover a now reduced budget.

What happened ? the price of oil dropped 'dramatically''.

July 2008 $145.31 per barrel to December 2008 $30.28.





Cushing, OK WTI Spot Price FOB (Dollars per Barrel)

Are you writing about the cost of the war or just the cost of the reconstruction?

There was a news piece at the BBC on Monday about reconstruction costsThe US has spent nearly $51bn on rebuilding Iraq and its army.

Officials initially estimated that the reconstruction programme would cost $2.4bn

BBC NEWS | Americas | Report shows wasted Iraq spending

It would be hard to put the cost of the Iraq war so far at less than ten times that. I seem to remember George Bush trying to make out the US could make a net profit on the whole deal but he seems to have been misadvised.

As for any notion the US is going to end up a welcome business partner in Iraq once they get restarted and that the US might eventually recoup its investment, pigs might fly first.

Has anyone actually worked out why the country was led down this garden path of idiocy yet?

if the Iraqi gov. wasn't spending the money from all those months that oil was $145.31 a barrel



"the US Gov. Accountability Office pointed out that the Iraqi gov. had shown little ability to spend all that it had budgeted"


t was reported that revenue shortfalls have forced Iraq to slash the budget by over $25 billion .

the projected surplus didn't happen. Now it's being said the Iraqi gov. may not have enough to cover a now reduced budge


and then they were able to 'slash ' over $ 25 billion more off their budget.

because the price per barrel dropped .





Where I get lost is ,

All that time everyone was paying close to or over $5.00 a gallon at the pumps and oil was $145.31 per barrel.

If they weren't spending that money that was pouring in from the $145.31 barrels of oil , why are they hurting for money just because that money slowed to a trickle of $30.28.





(on a much smaller scale, I understand how the futures market works.

it is played all the time in the cattle business. a rancher will 'preg test ' his cows . Take the numbers (of pregnant cows) to the bank and get a loan against the 'projected' calf crop for next year. And he sits on pins and needles worrying that nothing happens to any of the pregnant cows during the coming winter , or any of the calves that are born in the spring and summer until he can ship to market next fall to pay off the loan )







But unlike the money on 'loan' from the bank the rancher owes , the Iraqi gov. had the cash money from coming from the $145.31 per barrel

Why wasn't the iraqi gov. paying some for some of the expences that the USA was footing the bill for while oil was at $145.31 per barrel ?

That is why I refernced our welfare system and abuse in my thread topic.

Why would they?

Are you suggesting they invited US intervention?

You're there, they can't do a lot about that, but the only way you'll get money from them is at the point of a gun.

Ah. Well, a slightly more explicit demand anyhow.