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• mohit - Oct 03 2008 | politics, news, america, splurge, taxes

  Quoted: He asked me where America was going to get the $700bn needed for the splurge. I reminded him that the legislation (at least last I looked) only authorized $350bn upfront and only $250bn of that would be funded initially. I pointed out to Nathan that if we up and left Irag this month and walked away from all of our financial commitments to Iraq and it’s security, we’d save $250bn over the next two years. We could use that money buying the crap assets, holding them through the downturn, and then flip them when things get better, hopefully for a profit. That’s a hell of a lot better than spending $250bn providing a police force for Iraq while they assemble an oil-funded surplus for their own account, not ours.