Out of money

From the LA Times:

WASHINGTON — The U.S. will halt construction work on some water and power plants in Iraq because it is running out of money for projects, officials said Wednesday.

Security costs have cut into the money available to complete some major infrastructure projects that were started under the $18.4-billion U.S. plan to rebuild Iraq. As a result, the United States is funding only those projects deemed essential by the Iraqi government.

Although no overall figures are available, one contractor has stopped work on six of eight water treatment plants to which it was assigned.

"We have scaled back our projects in many areas,” James Jeffrey, a senior advisor on Iraq for the State Department, told lawmakers at a hearing of the House Appropriations subcommittee on foreign operations. “We do not have the money."

We do not have the money. Isn’t that...embarrassing?