mr. alison's for additional improvements. mr. alison and his team reviewed each active loan in the portfolio looking at the risk factors behind each loan and estimating each loan's cost. mr. alison's report conclude that had the department is using the appropriate risk factors in assessing each loan. the federal credit reform act defines the cost of these loan programs as the estimated long term cost to the government including the risk of default. for each loan the subsidy estimate can be seen similar to the loan loss reserve. congress appropriated $10 billion in credit subsidy under the federal credit reform act for title 17 and advanced vehicle loan programs. while the portfolio includes loans to arrange projects it carries levels of risk the report finds that the department of has reasonably estimate it had cost of these risks. in fact mr. alison estimates that the long term cost of the outstanding portfolio is 2.7 billion, roughly 200 million lower than the department's most recent estimates. the purpose of the loan programs

mr. alison, a very specific thing about the loan subsidies, i think that is the best use for these hearings and i thank you, mr. secretary, for the tremendous work that you are doing. >> and thank you. our goal is to get that bulb to $5,000 light bulb that lasts for 5,000 hours or even 10,000 hour us. >> and for street lights it's -- that should go beyond certain neighborhoods because for safety it can reduce crime. >> right. >> >> there's all kinds of reasons for that. mr. secretary, thank you. i assume that the record will stay open for -- i'm making this up now -- a week. but the hearing is adjourned. >> thank you. >>> garments made of homespunning cloth would be much more rough-textured, much less fine than the kinds of goods that they could import from great britain. but by wearing this homespun cloth, women were vividly displaying their sentiments. >> rosemarie talking about the revolutionary war part of american history tv on c-span 3. >>> our system is fundamentally undemocratic in a number of ways. one of the ways is closed primaries. so in half the states in the country, 40% of al

mr. alison referred to as investme

alison. >> she knows nothing about basketball. >> the president also has the ohio state buckeyes going all the way as well as your unc tar heels. >> thank you, mr. president, for supporting the tar heels. mr. obama's entire bracket will be revealed this morning. and we should say tomorrow will be the roll jut for the second annual "world news now" march madness competition. filling out our brackets and getting ready. >> we have plenty to reveal about the competition tomorrow morning including our national championship picks. be here to tune in then as the madness takes hold. we've also got some surprise in the competition this year. >> that should be very good. i'll be back on the show tuesday. but good luck. my bracket will be turned in before i hit the airport. >>> college basketball is not the only high-profile competition taking place. >> a 6-year-old virginia girl is on her way to the scripps national spelling bee after winning her local contest. it won't be a snap for laurie ann madison when she steps on that stage in washington, d.c. she will be the youngest competitor ever in the spelling bee. good luck. 6 years old? mm. >> smart girl.