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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (56888)	9/22/2006 5:04:14 PM
From: regli	Respond to of 116555

Mish, just so that we don't forget: fas.org ... TED KOPPEL (Off Camera) Well, it's a, I think you'll agree, this is a much bigger project than any that's been talked about. Indeed, I understand that more money is expected to be spent on this than was spent on the entire Marshall Plan for the rebuilding of Europe after World War II. ANDREW NATSIOS No, no. This doesn't even compare remotely with the size of the Marshall Plan. TED KOPPEL (Off Camera) The Marshall Plan was $97 billion. ANDREW NATSIOS This is 1.7 billion. TED KOPPEL (Off Camera) All right, this is the first. I mean, when you talk about 1.7, you're not suggesting that the rebuilding of Iraq is gonna be done for $1.7 billion? ANDREW NATSIOS Well, in terms of the American taxpayers contribution, I do, this is it for the US. The rest of the rebuilding of Iraq will be done by other countries who have already made pledges, Britain, Germany, Norway, Japan, Canada, and Iraqi oil revenues, eventually in several years, when it's up and running and there's a new government that's been democratically elected, will finish the job with their own revenues. They're going to get in $20 billion a year in oil revenues. But the American part of this will be 1.7 billion. We have no plans for any further-on funding for this. ... TED KOPPEL (Off Camera) And we're back once again with ANDREW NATSIOS, administrator for the Agency for International Development. I want to be sure that I understood you correctly. You're saying the, the top cost for the US taxpayer will be $1.7 billion. No more than that? ANDREW NATSIOS For the reconstruction. And then there's 700 million in the supplemental budget for humanitarian relief, which we don't competitively bid 'cause it's charities that get that money. TED KOPPEL (Off Camera) I understand. But as far as reconstruction goes, the American taxpayer will not be hit for more than $1.7 billion no matter how long the process takes? ANDREW NATSIOS That is our plan and that is our intention. And these figures, outlandish figures I've seen, I have to say, there's a little bit of hoopla involved in this. ...