Bush cancels Iraq's $4.1 BILLION debt

In a recent CNN article on CNN, entitled "U.S. cancels Iraq's $4.1 billion debt":

http://www.cnn.com/2004/WORLD/meast/12/17/iraq.main/index.html

WASHINGTON (CNN) -- The Bush administration formally canceled Iraq's $4.1 billion debt to the United States on Friday and urged others to do the same to help the country rebuild.

We apparently can just invent money.

I thought Iraq was a rich nation who was going to be able to profit greatly from its own internal wealth of oil?

Oh, well... Who needed that $4.1 BILLION anyway?

Will we ever be able to do anything with our money now that we're engaged in Iraq? Let's look at another recent article, entitled "Bush looking at freezing domestic spending" :

http://www.cnn.com/2004/ALLPOLITICS/12/17/bush.spending.ap/index.html

WASHINGTON (AP) -- The White House is telling federal agencies to expect lean budgets next year, with congressional aides and lobbyists saying President Bush appears ready to propose freezing or even slightly cutting overall domestic spending.

So FINALLY Bush thinks it's a good idea to stop spending. Of course, he's cutting back on domestic spending. It's apparently okay to continue spending money abroad and even forgiving $4.1 BILLION DEBT because those people overseas need the money more than we do anyway...

It's a wonder HOW this man can actually be considering REFORMING SOCIAL SECURITY, given the enormous cost ANY reform will be!

[ ...and what about Medicare reform? Isn't THAT where the big problem is? ]