Tales from the Trail

The First Draft: Drawdown in Iraq

February 27, 2009

President Obama makes no small plans. One day after announcing the biggest budget deficit since World War Two, Obama flies to a Marine base in North Carolina to announce a withdrawal timetable for troops in Iraq. IRAQ/

Obama envisions an end to combat operations by August 2010, though a force of around 50,000 will remain. That’s too many for House Speaker Nancy Pelosi, a fellow Democrat, but former Republican presidential rival John McCain thinks it’s about right.

The Iraq news should provide a welcome change of focus from the economy, which continues to be terrible. Government data showed the U.S. economy contracted more sharply than estimated in the fourth quarter, with gross domestic product falling at an annual rate of 6.2 percent. The Treasury Department has said it will convert its $25 billion stake in Citigroup to regular shares, giving it 36 percent ownership of the troubled banking giant. Citi’s shares are down 19 percent in premarket trading.

What about the other troubled banking giant? Bank of America CEO Ken Lewis flew to New York yesterday so state attorney general Andrew Cuomo could press him to release a list of employees who got bonuses in 2008. Lewis said he cooperated, but the AG’s office said otherwise.

How did Lewis get to the meeting? He flew in a $50 million private jet, according to ABC News.

One bit of good news: it’s almost the weekend.

Photo credit: REUTERS/Mohammed Ameen (U.S. forces in Baghdad, Feb. 20)

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Comments
2 comments so far | RSS Comments RSS

Any American interested in what happened with this war, please sign the petition below. Senator Leahy needs our signatures on the Bush Truth Commission Petition, and lets get this investigated and bring these people to answer why we are where we are and why our men and women had to die in this foolish war for the sake of a few greedy individuals. Thanks –

http://ga3.org/campaign/btcpetition

Posted by BeautifulWitch | Report as abusive
 

this leahy guy ,is he the same one that tried to get clinton impeached for lying under oath?

Posted by brian lee | Report as abusive
 

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