CBO then adds the cost of the interest differential between direct Federal borrowing and utilizing guaranteesanother $18.4 million. The bottom line: This $400 million loan guarantee will cost the American taxpayer more than $400 million. more than if we simply gave the $400 million to Israel this year. And there are still other questions. One troublesome question is what Israel will do with the loans we are guaranteeing. The image is of a whole bunch of simple houses and apartments. to provide housing for some needy immigrants. But the reality may not be as simple as that. In the first place. the guarantees cover not only housing. but the socalled infrastructure for building houses.
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immigrants