Publisher's Synopsis
Excerpt from Proposal to Amend the 7(a) Loan Program: Hearing Before the Committee on Small Business, House of Representatives, One Hundred Third Congress, First Session; Washington, DC, July 29, 1993
First of all, if, in fact, you only appropriate the million at a percent credit subsidy rate, that would create a program of billion, which we would manage, too.
I have no intention whatsoever of coming to you and asking for a supplemental. I think that is a poor way to budget. I made that commitment at my swearing in. I make that same commitment now. Having spent my whole life telling people what I want to do and then being held accountable for living within that budget, I just can't imagine telling our people that we are going to depend on a supplemental that may or may not come.
If, in fact, you don't approve the savings initiatives that we have proposed, then we will manage the program to the billion level. I think that would be most unfortunate for the small busi ness owners of this country.
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