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US federal deficit
exceeding 300 billion dollars
The federal deficit
in the United States will exceed 300 billion
dollars, the largest in the US history, a new
estimate by the US Congressional Budget Office (CBO)
said Monday.
The report showed
that the US federal deficit has reached an estimated
202 billion dollars for the first seven months of
the current fiscal year which began on Oct. 1 of
last year.
"CBO now expects
that the government will end 2003 with a deficit of
over 300 billion dollars," the report said.
The latest estimate
was released when the US Senate is debating this
week the new tax-cut package pushed by President
George W. Bush. The US president announced his
tax-cut plan earlier this year totaling 726 billion
dollars in coming 10 years.
However, the US
Senate had reduced the number by an half to
350billion dollars. The House of representatives
approved last week its version of the tax-cut plan
totaling 550 billion dollars.
President Bush
predicted last February that US federal deficit of
fiscal year of 2003 would be 304 billion dollars.
Some analysts said that the deficit could be much
higher if the cost of the war against Iraq is
included.
US troops detain
top Iraqi military officer
US forces have
captured the former Iraqi armed forces chief of
staff, a US Defense official said Monday.
Ibrahim Ahmad Abd al
Sattar Muhammad al Tikriti was listed as No. 11 on
the US list of the 55 most-wanted Iraqi officials.
"We have him in custody," the official was
quoted by agencies reports as saying.
Earlier Monday, the
US Central Command announced that US forces have
taken into custody of Rihab Rashid Taha, an Iraqi
woman scientist who was accused of leading Iraq's
efforts to weaponize germs such as anthrax.
But Central Command
spokesman Brad Lowell, who announced Taha'scapture,
said he could not confirm the detention of Tikriti.
French FM stresses
central role for UN in rebuilding Iraq
French Foreign
Minister Dominique de Villepin reiterated that it
should be the United Nations to play a central role
in rebuilding Iraq and confer legitimacy on new
Iraqi government, Le Monde newspaper reported on
Monday.
De Villepin said in
the report that a legitimate authority should be
established in Iraq as soon as possible, even if it
was temporary. The political principles and
conditions must be clearly defined to ensure the
political process of Iraq is above reproach.
After security is
restored in the country, the United Nations should
gradually take charge of the political transition
phase through a representative of secretary general,
as it did in Afghanistan and Kosovo, de Villepin
pointed out.
As for the draft
resolution proposed by the United States, the
minister said it can serve as a foundation for
discussion and must be revised. The UN Security
Council should not abdicate its responsibility and
privileges in Iraqi reconstruction.
The United States,
together with Britain and Spain, put forward the
draft resolution to the Security Council last
Friday, asking for legitimization of their
occupation of Iraq and shift of control over Iraq's
vast oil revenues from the United Nations to the
United States and its allies.
De Villepin stressed
that the proposal was too vague and too timid on the
mission and role of UN representative.
He also called for
clear rules on the distribution of Iraqi oil
revenues, adding that the management of the revenues
should be placed under an undisputed international
authority.
France will
participate into the discussion of the Security
Council on the draft resolution in an open and
constructive spirit, and will make suggestions for
reaching a rapid conclusion, de Villepin said.
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