Is the U.S. now responsible for paying Iraq debts to France, Russia etc??

[eablair3]

I heard on a talk radio show that there was a report out (I think the Wash Post was mentioned) that said that because the U.S. invaded and is occupying Iraq, that the U.S. is now responsible for repying Iraq's previous debt to other countries such as Russia, France and Germany?

I heard in this report that the total amount the U.S. is responsible for is about $200 billion.

Does anyone have a LINK to this story?

[sistersofmercy]

1. I don't have a link but I'm pretty sure...

the US doesn't have to repay the debts. In addition, I read somewhere that a new Iraqi government can dispute the debts by the former regime, meaning they probably won't have to pay the debts either. Makes sense if you think about, just another factor to why those counties aren't jumping into the Iraq frying pan.

[htuttle]

7. Historically speaking

Vast, vast portions of the accumulated debt owed by the 'developing world' were originally due to expenditures made by dictators, now deposed. None of those countries have been forgiven the debts due to their former regimes.

I think the debt is ours to pay at this point.

[sistersofmercy]

2. You can always do a google...

[eablair3]

3. been doing that

thanks, ... I've been goggling and searching on the Wash Post and Wash Times site. Apparently, this particluar tidbit was towards the end of a story that mentioned the breakdown of the money that is being sought for Iraq. At the end of the article, it supposedly mentioned what I wrote above. I heard in on Bernie Ward's show last night when he read the article -- he's usually reliable and accurate on this type of thing. I haven't been able to hunt it down, yet. thanks for the responses.

I'm still searching.

[eablair3]

4. FOUND THIS

found this so far. even though it's not the one from the Wash Post?Times -- it looks like it's pretty close to what I heard:


http://www.dfw.com/mld/dfw/news/6866580.htm

...

The discontent is relatively contained so far, said Jim Dyer, Republican staff director of the House Appropriations Committee, but that is because few members have read the proposal's fine print. As more details emerge, he said, anger is sure to rise.

Those details include $100 million to build seven planned communities with a total of 3,258 houses, plus roads, an elementary school, two high schools, a clinic, a place of worship and a market for each; $10 million to finance 100 prison-building experts for six months, at $100,000 an expert; 40 garbage trucks at $50,000 apiece; $900 million to import petroleum products such as kerosene and diesel to a country with the world's second-largest oil reserves; and $20 million for a four-week business course, at $10,000 per pupil.

...

We're not talking sanity here," Dyer said. "The world's second-largest oil country is importing oil, and a country full of concrete is importing concrete."

Republicans have grown nervous enough about Iraq that Vice President Dick Cheney and White House Budget Director Joshua Bolten traveled to Capitol Hill on Wednesday to meet privately with the agitated ranks and go over the $87 billion emergency war spending request.

"What really wanted them to do was carefully review it so they can justify to constituents why they voted for it," said a GOP aide who was at the meeting. "You've got to be able to go back home and explain why we need to do all this."

In several closed meetings this week Republicans questioned why the administration was piling more spending atop an ever-expanding federal deficit. Rep. Zach Wamp, R-Tenn., a member of the House Appropriations Committee, plans to offer an amendment making the package a loan, a proposal that the White House adamantly opposes.

"The people of eastern Tennessee want to know why the $20.3 billion couldn't be repaid by the Iraqi people from the oil revenues," Wamp said.

Rep. Jeff Flake, R-Ariz., insisted that the administration press nations such as France, Russia and Germany to forgive some of Iraq's $200 billion foreign debt, which Bremer conceded is now the United States' responsibility.

snip

http://www.dfw.com/mld/dfw/news/6866580.htm

[htuttle]

5. Just Remember

"It's YOUR money."
-- George W. Bush

[eablair3]

6. here's the Wash Post article on it

http://www.washingtonpost.com/wp-dyn/articles/A2213-2003Sep25.html

[sistersofmercy]

8. check out...

the Doctrine of Odious Debts. Basically it's an old law stating only public services debts to be repaid.

[eablair3]

9. thanks I was just reading a little on Odious Debt

it probably doesn't matter whether it should apply or not. The U.S. has no problem being hypocritical on such things.

It arose out of the Spanish American war wrt to Cuba.

http://www.odiousdebts.org/odiousdebts/index.cfm?DSP=content&ContentID=6531

http://www.odiousdebts.org/odiousdebts/index.cfm?DSP=content&ContentID=6946

http://www.dissidentvoice.org/Articles4/Petersen_Debt-Forgiveness.htm


I DO FIND IT INTERESTING THAT BREMER CONCEDED THAT THE $200 BILLION FOREIGN DEBT OF IRAQ IS THE U.S.'s RESPONSIBILITY. You don't hear that talked of too much, and I doubt most people realize it.

You add up the $79 billion, nolw the $87 billion, and then the $200 billion in foreign debt ... it's getting up there.

[im4edwards]

10. that was the previous occupant, open under new ownership

they can kiss that money goodbye.

which is one of the two reasons they are unwilling to play ball.

[DoYouEverWonder]

11. Saddam owes Saudi Arabia and Kuwait even more money

And those debts are scheduled for payment in W's $87 billion budget.

Senator Dorgan was ranting about it on the floor of the Senate two nights ago.

Why the hell are the American taxpayers expected to pay off Saddam's debts? We can't even pay off our own. And why are countries like Saudi and Kuwait standing there with their hands out, when they should be the first ones to help us pay for getting rid of Saddam.

Just another way for W to screw the American public and further enrich his friends.