Friday, June 6, 2014

'Fair-value' accounting costs incorrect

Using “fair-value” accounting — i.e., using a higher interest rate more reflective of the real-world risks assumed by the government — the Congressional Budget Office found that all three programs will require big, implicit subsidies: $2 billion over 10 years for the Export-Import Bank, $30 billion for the FHA and $88 billion for student loans.

When originally published, Editorial: Budget should reflect actual costs contained incorrect information.

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