Our country is currently mired in a staggering deficit due to the fiscal irresponsibility of the Bush Administration. Spending cuts, or even spending limitations, have not been used to balance the huge tax cuts Bush forced through Congress. The reputation of the Republican Party as deficit hawks has evaporated as spending increases under Bush have surpassed those under Clinton. Fiscal conservatives and moderate Democrats have every reason to be worried about our massive budget shortfall.
However, deficit concerns do not justify cutting reconstruction aid to Iraq. Some Democrats claim they would support our troops, but not \wasteful spending."" So they voted not to fund the $20 billion dollars requested by the Bush Administration for reconstruction. They were wrong-rebuilding Iraq is not wasteful spending. These politicians fail to see that a successful reconstruction effort is absolutely essential to securing peace in Iraq. Our troops cannot and should not be brought home until Iraq is stabilized. Support for our military and support for reconstruction cannot be separated.
Particularly egregious is the decision of two presidential candidates, Sens. John Kerry, D-Mass., and John Edwards, D-N.C., to oppose the funding. Both of these senators voted to authorize the Iraqi war and now have shamefully decided not to support the peace. This vote is enough to make me question whether they are serious about foreign policy and to cause me to limit my support to former Gov. Howard Dean, General Wesley Clark or Sen. Joe Lieberman, D-Conn.
Fiscal conservative proposed turning $10 billion of the $20 billion reconstruction aid into a long-term loan. At first, this appears to be a reasonable compromise. After all, Iraq has those vast oil reserves. Both Sen. Herb Kohl, D-Wis., and Sen. Russ Feingold, D-Wis., backed this proposal, which was adopted last week in a vote of 51-47.
Our senators are some of the best in the country. Both are honest and intelligent. Feingold in particular deserves our utmost respect for his lone, principled opposition to the USA Patriot Act. However, I must firmly disagree with them on this decision and suggest they reappraise their support for the loan. This loan is wrong for numerous reasons.
First, there is not yet a sovereign Iraqi government to authorize and approve this loan. We would not be offering a loan, as we do with many developing countries, but forcing it upon the Iraqi people. This is akin to the people who wash your car windows without your approval and then demand payment-an altogether shady operation we should not mimic. Moreover, the Iraqi Governing Council has strongly opposed this loan.
Second, Iraqis and others in the Middle East will see this as nothing more than a scheme to seize oil profits. Sen. John McCain, R-Ariz., who voted against the loan proposal, stated, ""Every despot, every extremist, every opponent all over the world will say, 'See, the United States was only there for one reason, and that's the oil.' That's what they'll say, and there will be some legitimacy to it."" This loan would provide Baathist remnants the needed propaganda tool to undermine the Governing Council and the entire reconstruction effort. We cannot afford to provide any basis to the charge that America is in Iraq to steal oil.
Third, by providing reconstruction funds as a loan, we will destroy any leverage we might have in pushing for the forgiveness of Iraq's outstanding debt. Iraq owes approximately $120 billion to Russia, France and Germany. Furthermore, Iraq still owes Kuwait tens of billions of dollars in reparations from the first gulf war. The new Iraq should not be crippled by the debts accrued by Saddam and his criminal regime. Remember, the Nazis exploited the problems created by heavy reparations in order to seize power in Germany. How can we argue that other countries should forgive the debt Iraq owes them when we too are lining up at the trough?
Finally, this loan would lead key allies to question our financial commitment to Iraq and would destroy the possibility of getting reconstruction aid from them. If we expect others to give money to Iraq, then we must lead by example. We desperately need to convince other countries at the international donors conference in Madrid on Oct. 24 to help us with the estimated $36 billion to $50 billion required in the reconstruction of Iraq. This loan will hurt that effort.
Sen. Feingold and Sen. Kohl, I appreciate your attempts on behalf of Wisconsin to rein in the federal deficit. However, foreign aid vital to our success in Iraq should not be sacrificed to save money.
