A number of government credit programs cost taxpayers more than is shown in official budget figures, the Congressional Budget Office reported.
Those include politically sensitive programs such as federal student loans and credit guarantees made through the Export-Import Bank.
Under normal federal accounting methods, according to the CBO, “the Department of Education’s four largest student loan programs would yield budgetary savings of roughly $135 billion” over the course of the years 2015-2024.
But using different accounting, a “fair-value” approach, the same program would cost $88 billion.
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