I thought this was interesting…while America drowns in red ink from a combination of Bush tax cuts and the money pit known as Iraq, Iraq has been racking up nice profits from selling all that oil they have. This year’s spike in oil prices has been especially good for Iraq — according to this website [1], they’re on track to have a budget surplus of more than $50 billion by year’s end. By contrast, America faces an estimated budget deficit of more than $400 billion for 2008 [2], which includes this year’s portion of roughly $50 billion the U.S. has paid since 2003 to help stabilize and rebuild Iraq.
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