CBO Paper: Evaluating and Accounting for Federal Investment in Corporate Stocks and Other Private Securities

摘要

Public interest has become widespread in having the federal government invest in private securities (such as stocks and bonds) as a way to increase the flow of budgetary resources to the government. This Congressional Budget Office (CBO) paper prepared at the request of Senator Pete V. Domenici, in his capacity as Chairman of the Senate Budget Committee-discusses the key effects of such investment on the U.S. economy and on the government's ability to meet its future obligations. The paper also describes alternative ways in which federal investment activity could be treated in the budget. Although some proposals call for investment to occur through individual retirement accounts, this report focuses on direct federal investment in private securities through the general fund of the Treasury, program accounts, or federal trust funds.