Ippolito examines the least publicized source of our current fiscal
troubles--federal credit programs. Since the 1970s these programs
(primary components of the federal policy in such areas as housing,
agriculture, education, and international affairs) have grown
dramatically, but neither the growth nor their costs have been
reflected in the budget. The true costs are not tangible and
direct, but these programs can affect investment, economic growth,
Originally published 1984.
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