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Testimony before the Committee on the Budget, U.S. House of Representatives
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Testimony before the Committee on Finance, United States Senate
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Issues and Options in Infrastructure Investment
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This paper analyzes the advantages and disadvantages of adopting a capital budget at the federal level. It also examines implementation issues, including options for defining capital spending.
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Testimony before the Committee on the Budget and the Committee on Transportation and Infrastructure, U.S. House of Representatives
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The housing and financial markets are in the midst of severe adjustments. House prices are falling rapidly, and they are expected to continue to fall. Mortgage foreclosures, particularly among subprime borrowers, have risen to record levels and are still rising. The financial markets are having severe difficulties adjusting to losses on mortgage-backed assets.