CBO today has somewhat unofficially opined on how big a dent FHA is making in the deficit. It’s not the $1.7 billion Treasury draw that matters, CBO says, but rather the changed valuation of FHA which increased the federal budget deficit by $22.4 billion. This will fire up the GOP to do even more to FHA than contemplated in Hensarling, dragging along otherwise-reluctant Democrats because of the big numbers now involved.
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