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Obama Still Wrong about $79 Billion Figure

Again tonight Obama said that the U.S. was paying too much for the war in Iraq, while the Iraqis have a “$79 billion surplus.”
As we’ve pointed out when Obama said it on the campaign trail, when he repeated it at the last debate, and even when Biden mentioned the figure in the vice presidential debate, that number is wrong. The Iraqis actually “have” $29.4 billion in the bank. The Government Accountability Office projected in August that Iraq’s 2008 budget surplus could range anywhere from $38.2 billion to $50.3 billion,

The Iraqi Surplus

Biden said that Iraq had an “$80 billion surplus.” Obama said the same — $79 billion — in the last debate, and we called him on it then. Seventy-nine billion is an out-of-date projection. The Iraqis currently have $29 billion in the bank, and could have $47 billion to $59 billion by the end of the year.
Update, Oct. 13: According to GAO, Iraq was unable to spend its entire budget in 2005, 2006 and 2007.