My take on 'grants' vs 'loans' for Iraq.

loudnclear

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Wed Oct-29-03 04:13 PM
Original message

My take on 'grants' vs 'loans' for Iraq.

Quite simply, grants require little is any accounting or monitoring in ways that would be public knowledge. Thus, payments to the Halliburton types and other neocon companies would be under the radar. Loans, would require the usual accounting procedures, deadlines, more accountability. No wonder the administration wants grants. Somebody convince me otherwise. I am willing to learn.

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Brucey

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Wed Oct-29-03 04:16 PM
Response to Original message

1. I agree, but I think the bigger issue

is that the money is going to US corporations, not to the Iraqi people. If it was a loan, that would put monetary restraints on its use by the corporations, and in order for Iraq to pay it back they would rightfully argue that the corporations that got the money should pay it back, not the taxpayers of Iraq. So, a grant is free money for US corporations. A loan would place restrictions on the use of that money and might mean the corporations would have to pay some of it back.

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StephNW4Clark

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Wed Oct-29-03 04:16 PM
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2. The counter-argument is...

...that loans essentially mean the Iraqi people pay for the consequences of the invasion. They didn't ask for the invasion, so why should they have to pay for the damage?

Ideally, I would like to see grants that are subject to the accounting rules of loans. I think loans will only serve to offer one more lighting rod issue in the Islamic world that will further endanger the troops. However, I do think oversight and competitive bidding are critical and would like to see these elements integrated into grant agreements.

(by the way, this is my personal opinion)

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Loonman

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Wed Oct-29-03 04:17 PM
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3. Plus, you collect interest from loans

n/t

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papau

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Wed Oct-29-03 04:18 PM
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4. GOP put down to "monitoring" is to change subject to "pay back"

and say grants do not get paid back

and loans get written off and not paid back

so why worry.

The above has been a media quip for the last few weeks as they help defend the Bush thefts.

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Wed Oct-29-03 04:18 PM
Response to Original message

5. top 1%

So make it a grant, but pay for it with repealing the tax cut on the top 1%.
The problem I have with making it a loan is that it's akin to if your state government tore down your house to build a highway without any compensation and then loaned you the money to relocate.

Add to my Journal

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bluestateguy

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Wed Oct-29-03 04:22 PM
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6. Look at it this way

By opposing loans--which would never be paid back anyway--Republicans are finally showing that they care about Third World Debt, as long as it serves Halliburton's needs.

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DrWeird

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Wed Oct-29-03 04:24 PM
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7. We bankrupted Germany over WWI.

That didn't turn out well.

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quispquake

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Wed Oct-29-03 04:27 PM
Response to Original message

8. Bartcop said it best...

"Bank robbers don't take out loans..."

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