Author Archive: Craig Eyermann

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

Puerto Rico’s Debt Clock Runs Out of Time

Tuesday June 30th, 2015   •   Posted by Craig Eyermann at 6:15am PDT   •   0 Comments

Back in December 2013, we featured a chart that showed how much debt per resident that Puerto Rico had accumulated. It also showed that Puerto Rico was second only to Detroit, Michigan, which had back then recently declared bankruptcy. Here is what we said at the time: Considering Puerto Rico’s situation, in the absence...
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The Consequences of a Large and Growing National Debt

Thursday June 25th, 2015   •   Posted by Craig Eyermann at 6:42am PDT   •   0 Comments

What are the consequences of a large and growing national debt? Believe it or not, the Congressional Budget Office directly addressed that question in its 2015 Long-Term Budget Outlook: How long the nation could sustain such growth in federal debt is impossible to predict with any confidence. At some point, investors would begin to...
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Replacing the National Debt with Equity

Wednesday June 24th, 2015   •   Posted by Craig Eyermann at 7:19am PDT   •   0 Comments

What if, instead of borrowing money to sustain its spending, the U.S. government instead sold equity shares of the future performance of the U.S. economy? Evan Schulman, the president and founder of Tykhe LLC, who received a patent in 2006 for his concept of sales participation certificates—a way for businesses and other entities to...
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Failing Up

Saturday June 20th, 2015   •   Posted by Craig Eyermann at 4:35pm PDT   •   0 Comments

First, the news from the Los Angeles Times: Peter Lee, the executive director of Calfornia’s Affordable Care Act exchange, after receiving a big raise this past February, is now getting a big bonus and another raise: California’s Obamacre exchange awarded its executive director a $65,000 bonus Thursday four months after giving him a 24%...
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The New Long Term Outlook for the National Debt

Wednesday June 17th, 2015   •   Posted by Craig Eyermann at 6:30am PDT   •   0 Comments

According to the latest projections issued by the Congressional Budget Office, the publicly-held portion of the U.S. national debt will rise from 74% of GDP at present to surpass 107% of GDP in 25 years. Bloomberg‘s Kasia Klimasinska describes the CBO’s findings: U.S. government debt held by the public is expected to rise to...
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Rip the Bandages Off Faster

Saturday June 13th, 2015   •   Posted by Craig Eyermann at 10:58am PDT   •   0 Comments

After a government gets into trouble for racking up unsustainable levels of debt, how fast should it go about restoring its fiscal credibility? Should it seek to lessen its fiscal “pain” by spreading out spending cuts over a long period of time, or should it, in effect, rip the bandages off as quickly as...
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Which Is Bigger: The National Debt or All Other Debt?

Thursday June 11th, 2015   •   Posted by Craig Eyermann at 6:27am PDT   •   0 Comments

The question came up of which is bigger—the U.S. national debt or all other debt owed by Americans? The answer, as best as we can determine with data through the end of 2014, is graphically presented below: At the end of 2014, the total public debt outstanding for the U.S. government stood at $18.14...
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Social Security Disability Waste

Saturday June 6th, 2015   •   Posted by Craig Eyermann at 6:34am PDT   •   1 Comment

When we surveyed the state of Social Security’s Disability Insurance program’s finances earlier this week, we didn’t realize that there would be breaking news regarding a high level of easily preventable waste in the program. Stephen Ohlemacher of the Associated Press reports: Social Security overpaid disability beneficiaries by nearly $17 billion over the past...
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What Social Security Trust Fund?

Tuesday June 2nd, 2015   •   Posted by Craig Eyermann at 6:43am PDT   •   1 Comment

Alan Greenspan, who served as the chairman of the Federal Reserve from 1987 to early 2006, has an interesting perspective on Social Security’s Trust Funds: Nicholas Ballasy of PJMedia reports: Alan Greenspan, former chairman of the Federal Reserve, said a Social Security Trust Fund does not exist and that the U.S. is “way underestimating”...
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Shutting the Barn Door after the Horse Has Bolted

Thursday May 28th, 2015   •   Posted by Craig Eyermann at 6:51am PDT   •   1 Comment

“Shutting the barn door after the horse has bolted” is an old American/English idiom that the Cambridge dictionary describes as meaning “to be so late in taking action to prevent something bad happening that the bad event has already happened.” Who knew that the American and English farmers of yesteryear had such insight into...
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