On the recordFebruary 7, 2012
I was actually reading from the original document, ``Reforming Credit Reform,'' by Marvin Phaup and Deborah Lucas, where they say straight- out here that including a risk premium in subsidy costs produces a cost estimate that, on average, exceeds outlays for realized losses. Now, we can argue whether that's an appropriate methodology or not. But the reality is it will, as a budgetary matter, systematically inflate the cash outlays for different credit programs going forward. I reserve the balance of my time.
