Easy Terms

If you owe the U.S., why pay?

"We must make it clear that debts owed to the Federal Government must be repaid. It is not right that responsible, honest citizens should suffer because of those who do not honor their obligations." So said President Reagan last year, announcing a Government crackdown on its debtors. One obvious place to start: the Small Business Administration, where more than 10% of 150,000 loans are currently overdue. As it turns out, one of the SBA'S heftier overdue loans belongs to Gerald P. Carmen, 51, head of the General Services Administration. Carmen, who has been complaining about...

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