On the recordMay 17, 2007
The truth of the matter is, government only gets money one of three ways. It either prints money, and there's nothing in this bill that tells the Treasury Department or the Mint to print any money. It borrows money, as in Treasury bonds, and nothing in this bill suggests that anybody's going to be repaid the $3 billion that the GAO says this will cost over the next 5 years. Clearly, the only other way government gets money is a tax. Whether we are taxing the shareholders, whether we are taxing ultimately the consumers of low income, middle income mortgages, or a combination of both, this is a tax. Now, the question is what to do with this tax money. A lot of us have concerns about the fact that we're going to dump this $3 billion into a fund that has not been created, does not have a specific mission, does not have guidelines and does not have any controlling organization or entity.
Source
govinfo.gov
