Auditors: Iraq faces budget surplus

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Source: AP

By ANNE FLAHERTY, Associated Press Writer 18 minutes ago

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."
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"They ought to be able to use some of their oil to pay for their own costs and not keep sending the bill to the United States," said Sen. Patrick Leahy, D-Vt.


Read more: http://news.yahoo.com/s/ap/20080311/ap_on_go_co/us_iraq

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Must be nice.