Why we must stay in Iraq.

[FloridaPat]

http://stevemoyer.us/stayiraq.htm

"Right now the U.S. is borrowing $320 billion a year just to pay the interest on the national debt. ( 8 trillion times 4 percent ). When you find yourself borrowing just to pay the interest on your debt then you are bankrupt. If interest rates ( and bond rates ) rise one percent the government will need an additional $80 billion.

Most Americans doubt that we will ever pay off that huge debt, which comes to more than $26,000 per man, woman and child or more than $60,000 per full-time worker. 1.7 trillion of this debt is held by the Social Security Trust fund. The fund is already gone. Current recipients are getting their checks from foreign nations' purchase of U.S. bonds. At least that's one potential way to "spin" the facts. Who's paying for the war in Iraq? Japan and China. Who's paying for your Katrina relief? Japan and China. Who's paying for the highway bill? China and Japan. Take your pick of which "spin" you prefer.

One or all of these statements are true, at least in some respect, depending on how you wish to "slice and dice" the national debt. It would be one thing if the Social Security Trust Fund had been invested in private sector companies, but instead it's been spent on war in Iraq, tax cuts, and the Katrina disaster. It's all the same "pot of money."

Why do foreigners buy U.S. bonds? Because the U.S. is sitting on 10 trillion dollars of Iraqi oil. That's a conservative estimate using the figure of 200 billion barrels times $50 a barrel. Oil is now over $60 a barrel and the estimates of Iraqi reserves go as high as 300 billion barrels, which could mean that the U.S. is sitting on 18 trillion dollars of oil. That's more than the capitalization of all the companies on the New York Stock Exchange!"

[whistle]

1. But shrub still has 42 months to go and his goal on the national debt

...is to hit $13 trillion. So if we are bankrupt now, how bankrupt will the country be in January 2009? Borrowing $1 trillion/year to pay the interest.

[obxhead]

2. If this is the reasoning then we need to stop

BS'n everyone and say Iraq is now property of the US.

[bridgit]

3. yes but, we haven't radicalized the entire islamic world just...

http://www.commondreams.org/headlines05/0918-01.htm

[CrispyQ]

4. So we need to stay in Iraq

so we can pay the interest on the debt it's costing us to be in Iraq with the oil that we stole from Iraq.

Did I get that right? :wtf:


:banghead:

[damntexdem]

5. And when we get blown off that oil ...

we will be even further in debt.

[HysteryDiagnosis]

6. Invest in the military industrial complex and watch your gd future

go the way of the dinosaur. Militant rw assholes. They need their own frigging country to muck up.... really.

[RC]

7. What are you talking about?

They have one. Ours!

[HysteryDiagnosis]

10. Yeah.... I know....

[BlueJac]

8. Fucking insane

That is not our oil.....borrowing is insane, just like Bush. 200 billion already on Iraq, and we should pay more for what??? Debt. If we quit giving our money away like drunken sailor on meth we could turn it all around. Our tax base is hugh and it will take hard work and the rich paying their share for a change. Fucking get real.....pay billions on a gamble....shit your turn with the dice.. roll!!!

[pretzel4gore]

9. childlike mental logic

chickens guarding the coop talk...hell 35 years ago, everybody assumed there'd be colonies on the moon by now with missions to the stars in the pipeline but the rightwing war on public spending (which means taxation) got going good during carter era, and the USA pigmedia made damn sure carter was so demonised (helped by the october surprise/richard perle) so that the hostage crisis set stage for reagan victory (if it was real, knowing how the busheviks work)...the problem isn't oil, it's deceit and greed and theft and liars in positions of authority, blackmailing, extorting, stealing; and pigging out on what's not theirs....

[FogerRox]

11. I hear what you are saying but--

Why do foreigners buy U.S. bonds?

Because US bonds have been a good investment for eons.


Because the U.S. is sitting on 10 trillion dollars of Iraqi oil. That's a conservative estimate using the figure of 200 billion barrels times $50 a barrel. Oil is now over $60 a barrel and the estimates of Iraqi reserves go as high as 300 billion barrels, which could mean that the U.S. is sitting on 18 trillion dollars of oil. That's more than the capitalization of all the companies on the New York Stock Exchange!"

Not really, you need to figure how long it takes to pump out that 300 million barrels, figure an annual figure for the value of oil pumped, compared to an annual figure for the capitalization of all the companies on the New York Stock Exchange. If it takes 36 years to pump out the Iraqi oil --then we are looking at 1/2 trillion/annum. what is the size of the annual US GDP? -- maybe 18 or 20 trillion?

[pretzel4gore]

12. upper class twits

ie the people who control the big money, are goofballs....their support of bush (and hitler in his day) proves these fukkers don't know enough to come in outta the acid rain