On the recordFebruary 7, 2012
I thank the lady for commending us for raising these issues. But actually, we're doing something more than just simply raising the issue. We're addressing it and solving this problem as well. I appreciate the fact that the gentlelady raises the fact about a list of experts who have questions about this. Well, I have experts too, but I actually have the name. A former CBO Director, Doug Holtz- Eakin, now with American Action Forum, writes us here to express support of H.R. 3581. The gentlelady may also know, since she serves on the committee, when it comes to this issue that we had this issue up in committee recently, and we asked the current CBO Director does he support with regard to moving towards fair value. And he said that is the more appropriate basis of evaluating the obligations of the Federal Government. So we have the experts. American Action Forum, January 30, 2012. Hon. Paul Ryan, Longworth House Office Building, Washington, DC. Dear Chairman Ryan: I am writing to express my support for H.R. 3581, ``The Budget and Accounting Transparency Act of 2011,'' in particular those provisions that would incorporate fair value accounting (FVA) into the federal budget process. As you are well aware, a core objective in federal budgeting is to accurately display the scale and timing of the expenditure of taxpayer resources.…
