Friday, October 17, 2003


I'm not sure this is a bad thing. The money will still go. And if France, Germany, Russia and Saudi Arabia attempt to claim billions of Saddam's Hussein's debt from the new US-liberated Iraq, then we can collect ours first.

But if they forgive the lions' of Hussein's debt, then so will we.

The result being the US taxpayer doesn't lose more ground to the French taxpayer in taking responsibilty for the liberation of Iraq.
Defying a muscled lobbying effort by President George W. Bush to get Congress to grant Iraq $20.3 billion for reconstruction, bipartisan senators yesterday narrowly forced a change to make some of that money a loan...

The showdown amendment would grant Iraq more than $10 billion outright and make the other $10 billion a loan. That loan would convert back to a grant if Iraq's creditors that are owed more than $125 billion - France, Germany, Russia and Saudi Arabia - forgive 90 percent of that debt.

Loan proponents said it would give Iraq a stake in its own future and ensure U.S. taxpayers do not finance Saddam Hussein's debt.

No comments: