[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2008/POLITICS/08/05/iraq.oil/art.iraq.oil.afp.gi.jpg caption= "Oil accounted for 94 percent of the Iraq's revenue from 2005 to 2007, a U.S. report says."]
Cha-ching! Oil revevues are making Iraq rich, very rich. According to a new U.S. audit, the Iraqi government will have a budget surplus of up to $80 billion by the end of the year due to soaring oil prices. But auditors say over the last two years, Iraq only spent $947 million dollars to pay for maintenace of roads, bridges, vehicles, buildings, water and electricity projects and weapons. At the same time, the U.S. was spending a lot of your tax dollars in Iraq. Auditors say since 2003, Congress has approved $48 billion for so-called stabilization and reconstruction efforts in Iraq. As you might imagine, some lawmakers on Capitol Hill who voted on that cash assistance are angry. Democratic Michigan Senator Carl Levin said today, "This is not rocket science. They've got tens of billions of dollars in surplus in banks around the world, 10 billion in American banks alone, they wrote a check to get that money into the bank, they can write a check to reimburse us for the reconstruction costs." This may leave you asking: Why isn't Iraq paying more? Tonight, find out why. We're keeping them honest.
And, we're on the trail with the latest developments in the veepstakes. Who do you think John McCain and Barack Obama will pick as their running mates? Tonight, we'll show you some possible auditions for the job.
Plus, there are new details in the search for little Caylee Anthony. The 2-year-old Florida girl vanished in early June. Her mom is behind bars and was charged yesterday with child neglect and filing a false statement, but not with her daughter's disappereance. Investigators say Casey Anthony didn't report her daughter missing for more than a month. Today they took a new step in their investigation that's made a lot of headlines. That's in our crime and punishment report.
All that and more tonight on 360°.
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