AllupInyourBiz » budget http://www.allupinyour.biz There is always something to complain about Wed, 18 Mar 2009 18:53:18 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Note to self: Learn to speak Chinese http://www.allupinyour.biz/2009/03/note-to-self-learn-to-speak-chinese/ http://www.allupinyour.biz/2009/03/note-to-self-learn-to-speak-chinese/#comments Fri, 13 Mar 2009 16:34:14 +0000 Ted Swenson http://www.allupinyour.biz/?p=440 wenjiabao.jpg

It is a little bit disconcerting when the largest financial stakeholder in the US government goes on the air and expresses concern about it’s debtor’s ability to repay. I mean, what would happen if China called all of their notes due, today? Would they foreclose on our government? Would Jiabao show up at the Whitehouse with a couple of marshalls, and be like “alight Bam, hand over the keys. We can do this the easy way, or the hard way.” These are all things that would have been important to contemplate before making rash budgetary decisions. This is one huge issue where I hope that I never get to say “I told you so.”

[photo: Diego Azubel/European Pressphoto Agency]
]]> http://www.allupinyour.biz/2009/03/note-to-self-learn-to-speak-chinese/feed/ 1 Whoa whoa whoa, Iraq has surplus what? http://www.allupinyour.biz/2008/08/whoa-whoa-whoa-iraq-has-surplus-what/ http://www.allupinyour.biz/2008/08/whoa-whoa-whoa-iraq-has-surplus-what/#comments Wed, 06 Aug 2008 14:31:58 +0000 Ted Swenson http://www.allupinyour.biz/?p=178 According to a NY Times article this morning, rising oil prices have left Iraq with a $79 billion budget surplus. The article points out that little or no funds from the Iraqi budget are being allocated towards rebuilding the country, because the US is paying for all of it. The article quotes John Warner (R. Virginia) as saying “The Iraqi government now has tens of billions of dollars at its disposal to fund large-scale reconstruction projects.” The article also quotes Mr. Levin, the chairman of the Senate Armed Services Committee as saying, “It is inexcusable for U.S. taxpayers to continue to foot the bill for projects the Iraqis are fully capable of funding themselves. We should not be paying for Iraqi projects, while Iraqi oil revenues continue to pile up in the bank.” No kidding! In fact, it wouldn’t be too far fetched to add in a request for a little bit of reimbursement. This situation is especially frustrating, given the fact that American officials promised that Iraqi oil would pay for the reconstruction of the country. That promise may have indeed been the catalyzing factor for many of those who initially voted for the action in Iraq. Who do we hold accountable?

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