Author Archive: Craig Eyermann

Craig Eyermann is a Research Fellow at the Independent Institute.
Full biography and recent publications

The Developing Bailout of Puerto Rico


Thursday May 26th, 2016   •   Posted by Craig Eyermann at 6:25am PDT   •   0 Comments

A major step toward the bailout of the bankrupt government of the U.S. territory of Puerto Rico was taken on May 25, 2016, when a draft of the “Puerto Rico Oversight, Management, and Economic Stability Act” (PROMESA) advanced from a Congressional committee with bipartisan approval. The Wall Street Journal describes the bill now pending...
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U.S. Truckers to Test Drive Pension Benefit Cuts


Saturday May 21st, 2016   •   Posted by Craig Eyermann at 11:15am PDT   •   0 Comments

According to Social Security’s Trustees, in 2034, all Americans who receive retirement benefits from Social Security will have their pension payments slashed by 21%. But before that happens 18 years from now, U.S. truckers will test drive even larger retirement benefit cuts from their pensions if the U.S. Treasury department has its way, as...
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World Banks Panic Selling U.S. Treasuries


Wednesday May 18th, 2016   •   Posted by Craig Eyermann at 6:35am PDT   •   0 Comments

What happens when a number of the world’s central banks begin selling off their holdings of U.S. Treasury securities—the money the U.S. federal government borrows to sustain its spending? That’s a real question today because according to CNN, that’s exactly what three of the U.S. government’s largest lenders did in the first quarter of...
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The National Debt Burden per Household


Friday May 13th, 2016   •   Posted by Craig Eyermann at 9:50am PDT   •   0 Comments

How has the national debt burden per typical U.S. household changed during the last 8 years? To answer that question, it might help to know what a typical U.S. household is. For our purposes, a typical American household is one that earns the median household income, which means that 50% of U.S. households earn...
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Bailing Out the Wrong People


Saturday May 7th, 2016   •   Posted by Craig Eyermann at 8:10am PDT   •   0 Comments

When a government’s public debt grows too large, so much so that it needs to be bailed out in order to continue functioning, who do you suppose benefits the most from the bailout? If you said “the government”, or “the people”, you’re wrong. In reviewing the series of bailouts of Greece from 2010 through...
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Puerto Rico Officially Defaults on Its Debt


Monday May 2nd, 2016   •   Posted by Craig Eyermann at 5:50am PDT   •   0 Comments

The shell game is officially over – today, the U.S. commonwealth government of Puerto Rico will default on making $442 million in payments to its creditors. USA Today reports the news: Puerto Rico Gov. Alejandro GarcĂ­a Padilla said Sunday afternoon in a televised address that he had ordered the island’s Government Development Bank not...
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Why Government Subsidies Fail


Friday April 29th, 2016   •   Posted by Craig Eyermann at 6:49am PDT   •   0 Comments

A very cool YouTube video from Burton Folsom on why private investors are so much more successful at realizing technological achievements than are the kinds of schemes that are subsidized by the government: In addition to being very personally invested in the outcome of their endeavors, there is also a big difference in the...
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Bureaucrats Behaving Badly: HUD Edition!


Monday April 25th, 2016   •   Posted by Craig Eyermann at 7:06am PDT   •   0 Comments

The U.S. Department of Housing and Urban Development (HUD) has the mission to “create strong, sustainable, inclusive communities and quality affordable homes for all.” To do that, the U.S. government entity has established a five point agenda: Strengthen the housing market to bolster the economy and protect consumers Meet the need for quality affordable...
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Who Is Second Worst?


Friday April 22nd, 2016   •   Posted by Craig Eyermann at 6:46am PDT   •   0 Comments

By any fiscal measure, the government of Puerto Rico is the worst off of all state or territorial governments within the United States. But which U.S. state or territory is the second worst off? In discussing the state of the city of Chicago, City Journal‘s Aaron Renn makes a strong argument that it is...
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National Debt as a Weapon


Tuesday April 19th, 2016   •   Posted by Craig Eyermann at 5:27am PDT   •   0 Comments

Today, President Obama is traveling to Riyadh, Saudi Arabia to meet with that nation’s new king for the first time. But there’s a problem. There is legislation currently making its way through Congressional committees on Capitol Hill that threatens the interests of Saudi Arabia’s government, in that if it becomes law, would expose the...
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