Federal Credit : Concepts, Budgetary Treatment, and Reform Proposals, PDF eBook

Federal Credit : Concepts, Budgetary Treatment, and Reform Proposals PDF

Edited by Ethan A Kelly

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The U.S. government uses federal credit (direct loans and loan guarantees) to allocate capital to a range of areas including home ownership, student loans, small business, agriculture, and energy.

A direct loan is "a disbursement of funds by the government to a nonfederal borrower under a contract that requires the repayment of such funds with or without interest." A loan guarantee is "a pledge with respect to the payment of all or part of the principal or interest on any debt obligation of a non-federal borrower to a non-federal lender." At the end of FY2011, outstanding federal direct loans totaled $838 billion and outstanding guaranteed loans totaled $2,017 billion.

This book describes the concepts, budgetary treatment and reform proposals of federal credit.

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