Spank That Donkey

 Those revenues are safely enscounced in New York banks currently being invested in US Treasuries!  Check this out:

Increased Iraqi oil revenues stemming from high prices and improved security are piling up in the Federal Reserve Bank of New York rather than being spent on needed reconstruction projects, a Washington Times study of Iraq's spending and revenue figures has shown.

U.S. officials and outside analysts blame the collapse of the country's political and physical infrastructure for Baghdad's failure to spend the money on projects considered vital to restoring stability in the country.

Out of $10 billion budgeted for capital projects in 2007, only 4.4 percent had been spent by August, according to official Iraqi figures reported this month by the U.S. Government Accountability Office (GAO). The report cited unofficial figures saying about 24 percent had been spent.

Meanwhile, some $6 billion to $7 billion from last year's budget is "being rolled over" and invested in U.S. treasuries, said Yahia Said, director of Iraq Revenue Watch, part of the private watchdog group Revenue Watch Institute.

Now this is only prudent.  The Iraqi Govt. is known to be corrupt and those funds would be squandered, or even wasted as insurgents may just blow up certain assets they have rebuilt.  I think this has been a very reasonable thing to do by keeping these dollars in US Banks until a profit sharing agreement can be worked out for the revenues.  Plus it only makes sense that if we get double crossed...... We will just freeze those assets.

You gotta Love it.  Not to mention the fact that it's not just the Chinese who are helping to finance our debt, while we are helping to stabilize the Middle East, and provide Freedom for the people living there.

 This has seriously got to hurt.  A snippet:

It has taken nine bloody and difficult months, but the deployment of 30,000 additional U.S. troops appears at last to have brought not just a lull in the sectarian fighting in Iraq, but the first tangible steps toward genuine political reconciliation.

 More great news from Iraq by Michael Yon!  Thanks & Praise, Check it out!

 Why isn't the MSM screaming this story, "Islamic Iraqi Party: Al Quaeda is Defeated"  above the fold, or anywhere at all?

Where are our DemocRAT Leaders to proclaim that the "Surge" is a failure? (crickets chirping)

When does the panic mode set in that they will have lost their 'Vital' issue for holding onto Congress and taking back the White House in 2008?  Dem bumper sticker idea: "Proud to be Cut N Run".

Consider bookmarking Michael Yon, and take some time for some really interesting reading on the situation in Iraq.  It's pretty eye opening stuff.

Art work by Eric Allie, (what a Conservative Editorial Cartoonist?)

Navy Seal Lt. Michael Murphy was posthumously honored with the Medal of Honor today at the White House.

Fittingly, Osama Bin Laden goes begging in the face of the resolve by our Armed Forces.

More on the story the MSM is afraid to speak of here, "Resistance is Futile".