Iraq's debt cancellation, however, does not lie in a vacuum, and a neo-Conservative Bush II Administration does not call upon the likes of a Reagan Conservative like Jim Baker to deal with Iraq's debt unless the need is extreme -- like bailing Bush II out of the 2000 election situation. Baker is the top Republican fireman: follow him to find out where the most serious political fires need to be quenched. And when someone like Baker proves unable to solve Iraq's foreign debt problem, then it's time to worry, indeed.
In fact, how could Baker solve this Bush II-created problem? While the US has been pushing for most debt to be written off, it has complete control over Iraqi reconstruction; European nations hold most of the debt notes yet have at best a weak shot at contracts being awarded by the US government or its primary contractors. More simply, the US has been asking Europeans to cancel billions of dollars in debt for no guaranteed reconstruction contracts. Such a background reduces American gains at the UN last week to a slight of hand. Nothing has really improved between the US and its European NATO allies, so how can anything improve in Iraq, still held by Coalition forces?