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Budget and Spending: Federal Credit Programs

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Report Type Reports and Testimonies
Report Date May 24, 1984
Report No. 124215
Subject
Summary:

GAO discussed the development, growth, control, and evaluation of Federal credit programs, focusing on programs designed to intervene on behalf of specific borrowers, which seek to help them obtain credit on terms which would otherwise be unavailable to them. GAO cited guaranteed mortgages and direct loans as two examples of Federal credit assistance and noted that more than half of the direct loans made by the Government are defined as off-budget. GAO stated that: (1) a way must be found to measure the true cost of direct loans; and (2) direct loan costs must be brought into the budget process.

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