OMB POLICY STATEMENTS
OMB Provides More Guidance For Agencies Internet Connections
The Congressional Budget Office says that it is "impossible" to estimate the bottom line cost of the Treasury's bailout proposal given its lack of specificity. However, in testimony before the House Budget Committee on Wednesday, CBO Director Peter Orszag said that the CBO expects the net cost to be "substantially less" than the $700 billion requested by the Bush administration. Lawmakers on the committee expressed concern over whether the the program would drive up the cost of federal government borrowing - a particularly important issue since the federal budget deficit this year is expected to reach $407 billion and climb higher next year.