On April 13, 2012, the US Department of the Treasury released new cost estimates for the Troubled Asset Relief Program. Looking principally at actual and projected contractual cash flows, the document concludes that: "Overall, the government is now expected to at least break even on its financial stability programs and may realize a positive return." 

At this event, Alan Viard will present the X tax proposal while James Mackie of the U.S. Department of the Treasury and Chris Edwards of the Cato Institute will offer commentary.

Make the Treasury Department truly responsible for managing all the government's debt. Managing only Treasury securities deals with only about half, and sometimes less than half, of the effective government debt.

Canada's government-financing operation looks superior to the one in the United States in candor, as well as credit performance, as it achieves equivalent home ownership levels.

During two closed sessions before the luncheon, committee members discussed the latest in financial regulation issues. At a luncheon briefing following these sessions, SFRC members gave several statements and answered questions.

Congress should either turn Social Security into a general revenue program with no earmarked taxes or make it a genuinely self-supporting program that receives no general revenue transfers.

Last week, the Administration released its eagerly awaited report on reforming the housing finance market. The Dodd-Frank Act had omitted consideration of the government sponsored enterprises (Fannie Mae and Freddie Mac) because they were perceived to be sufficiently important to warrant separate consideration.

Everybody now agrees that Treasury guarantees should be both explicit and explicitly paid for.