<<"It's very hard for me to go home and explain that we have to give $20 billion to a country sitting on $1 trillion worth of oil," said one loan supporter, Sen. Lindsey Graham, R-S.C. >>
Senate Defies Bush, Approves Iraqi Loans
By ALAN FRAM, Associated Press Writer
WASHINGTON - The Senate defied President Bush (news - web sites) on Thursday and voted to convert half his $20.3 billion Iraqi rebuilding plan into a loan, dealing the White House an embarrassing foreign policy setback.
Despite an administration lobbying blitz that in recent days involved Bush himself, Vice President Dick Cheney (news - web sites), Secretary of State Colin Powell (news - web sites) and others, the Republican-run chamber voted 51-47 for a bipartisan proposal making $10 billion of the aid a loan.
"They rolled out all the heavy artillery they could find," said Sen. John McCain, R-Ariz., a one-time Bush rival who sided with the White House.
"Back home, people were asking for loans," said Senate Majority Leader Bill Frist, R-Tenn. in explaining the vote.
But Senate Minority Leader Tom Daschle, D-S.D., said the roll call was a slap at Bush's policies in Iraq (news - web sites).
"The Senate sent a strong, bipartisan message to this administration: It must do more to ensure that America's troops and taxpayers don't have to go on shouldering this costly burden virtually alone," Daschle said.
The loan proposal was the most dramatic change lawmakers have made in the mammoth spending package that the president proposed on Sept. 7.
Its approval by the Senate marked the first congressional vote in opposition to Bush's policies in Iraq. It was also the latest of several setbacks that Congress has dealt him in recent months on issues including concentration of media ownership, new rules on overtime pay, and travel to Cuba.
The administration argued that loans would worsen Iraq's foreign debt, slow its recovery and hand a propaganda victory to America's enemies. But the vote underscored that with presidential and congressional elections 13 months away, many lawmakers were more worried about vast new spending for foreign aid at a time of record federal deficits at home.
<<Message #44799 from IQBAL LATIF at Oct 16, 2003 4:46 PM
Iraq is and will be a rich nation, underground reserves are estimated to be second highest in the world, so far in last fifty years of squandered opportunities and filthy regimes Iraqi wealth was utilized to build palaces and vain armies, post liberation and emergence of new Iraq as we move forward Iraq would need to grow up and pay for its rebuilding through its own resources.
The whole idea of rebuilding Iraq through 35 billion of US money does not add up with me, the Iraqis can pump 5-6 million barrels a day in 36 months, the entire financing can be obtained and there is no need to spend huge sums as blood money for liberation from Saddam.>> |
