Drawing on experience at OMB and CBO, Doug traces the evolution of federal credit from New Deal housing programs to the 2008 financial crisis and the trillion-dollar pandemic response, and explains why these programs have become one of the federal government’s most powerful and least understood economic tools.
They explore the counter-cyclical role of federal lending, the tradeoffs between speed and program integrity, and what COVID-era fraud revealed about fragmented systems and outdated technology. Doug also lays out the Center’s mission to help modernize the full loan lifecycle, strengthen safeguards, and deliver a more borrower-first experience.