Political Quotes

Thomas E. Petri: “I just have to say, this is important, because, on the one hand, if you treat a direct loan as adding to the debt with…”

On the recordFebruary 7, 2008
I just have to say, this is important, because, on the one hand, if you treat a direct loan as adding to the debt with no offset because it is a loan which will be repaid, the loan is an asset, there should be some offset, you can get a very misleading picture. If you are cosigning a note, you are liable on the note, and that's what we do when we guarantee these private loans. So zero costs in the direct program and outlay. And it misleads, too, because unless you compare apples and apples, you can have a badly distorted picture.
Said by
Thomas E. Petri
Wisconsin
Source
govinfo.gov

Editor's note · Context

Discussing the implications of treating direct loans in budget accounting.

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