Federal credit programs carry a $51.9 billion fair-value cost to taxpayers, David Ditch says, versus $15.3 billion in estimated “savings” under the FCRA method.

Federal credit programs carry a $51.9 billion fair-value cost to taxpayers, David Ditch says, versus $15.3 billion in estimated “savings” under the FCRA method. He also notes student-loan liability estimates fell by $8.4 billion after last year’s reconciliation package.