March 11, 2005
Report Critical of Direct Lending
Government estimates that suggest that the direct-loan program is cheaper for the government to run than the guaranteed-loan program are unreliable, according to a new report released last week by the accounting firm PricewaterhouseCoopers.
The report alleges that "biases" in the way the government accounts for the programs provide a "distorted" view "of how much the programs cost, or save, the federal taxpayer."
"Federal budget estimates are inadequate for the purpose of
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