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  • Douglas Elmendorf

    CBO: Federal Accounting Understates Cost of Credit Programs

    According to the nonpartisan Congressional Budget Office (CBO), measurements of the budget impact of federal credit do not adequately address the risks involved, and may, in some cases, dramatically understate the costs of those programs. Under the current system, federal accounting practices do not “fully incorporate the cost of market … More

    Federal Accounting May Understate Costs of Solyndra-style Programs

    The accounting methodology used to measure the cost to taxpayers of federal loan guarantee programs such as the one that financed defunct solar company Solyndra may dramatically understate the programs’ financial risk to taxpayers. Simply put, the federal government ignores administrative costs and the risks of borrowers defaulting on their … More

    Daily Notes

    Lawmakers on Capitol Hill turn their attention to the budget as Douglas Elmendorf, director of the Congressional Budget Office, testifies before the House Budget Committee. He’ll be talking about the CBO’s Long-Term Budget Outlook. In the Senate, the Health, Education, Labor and Pensions Committee will hear from the middle class … More

    Even CBO Is Skeptical of Obamacare

    Congressional Budget Office (CBO) Director Douglas Elmendorf recently spoke at the University of Southern California about the economic impact of Obamacare. He predicts that Obamacare will further depress the nation’s employment picture. CBO’s analysis of Obamacare predicts that it will reduce the amount of labor being used in the economy … More

    CBO Director: There are Costs Involved with Cap and Trade

    Congressional Budget Office Director Douglas Elmendorf testified on October 14 before the Senate Committee on Energy and Natural Resources to discuss the economic effects of reducing greenhouse gas emissions and the effects – most notably the effects of the Waxman-Markey cap and trade legislation. Although Elmendorf felt that Waxman-Markey could … More