Author Archive: Craig Eyermann

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

Trump and the Future U.S. Budget


Friday July 22nd, 2016   •   Posted by Craig Eyermann at 6:47am PDT   •   0 Comments

If you’re anything like me, you’re doing everything you can to keep from having to watch any part of the major party political conventions this month. That’s because these kinds of events are far too often long on political hyperbole and short on substance. Too many promises get made that have absolutely no chance...
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The Debt Scenario You Should Believe


Monday July 18th, 2016   •   Posted by Craig Eyermann at 6:38am PDT   •   0 Comments

Each year the Congressional Budget Office publishes its Long Term Budget Outlook, it presents two different scenarios that project the future value of the publicly-held portion of the national debt: the Extended Baseline scenario and the Alternative Fiscal scenario. Because the two have very different assumptions behind them, the question of which scenario is...
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CBO: Out of Control Spending Worsens U.S. Fiscal Situation


Wednesday July 13th, 2016   •   Posted by Craig Eyermann at 5:26am PDT   •   0 Comments

Yesterday, the Congressional Budget Office published its 2016 Long Term Budget Outlook for the U.S. government. Investors Business Daily‘s John Merline identifies the main takeaway from this year’s edition of the CBO report. The nation’s long-term fiscal picture has grown considerably more dire over the past year, according to the latest forecast from the...
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Plunging Yields on U.S. Treasuries Benefit U.S. Government


Monday July 11th, 2016   •   Posted by Craig Eyermann at 6:36am PDT   •   1 Comment

Global Financial Data is a firm that maintains a big database the records lots of economic data going as far back as the year 1168. The firm recently produced the following chart showing the interest rates that the U.S. government has paid to its creditors on 10-Year debt securities issued by the U.S. Treasury...
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Medicare Trust Fund Running Out of Money


Friday July 8th, 2016   •   Posted by Craig Eyermann at 6:14am PDT   •   0 Comments

Yet another federal government trust fund supporting the welfare of America’s elderly population appears set to run out of money within the next 12 years. This time, it’s Medicare’s Hospital Insurance Trust Fund which, when it runs out of money as projected in 2028, will shrink the amount of money that goes to help...
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Puerto Rico Defaults on Constitutionally Guaranteed Debt


Tuesday July 5th, 2016   •   Posted by Craig Eyermann at 6:23am PDT   •   0 Comments

Last week, on June 29, 2016, President Obama signed a bill designed to help Puerto Rico’s government restructure its excessive debts into law – the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). CNN reports: On Thursday, President Obama signed a bill known as PROMESA (Spanish for “promise”) to help Puerto Rico get...
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The Trouble With Perverse Incentives


Thursday June 30th, 2016   •   Posted by Craig Eyermann at 6:26am PDT   •   0 Comments

The existence of perverse incentives explain a lot of the bad behavior that we see among government bureaucrats. A perverse incentive can be said to exist whenever an incentive to achieve a specific goal instead creates an unintended and undesirable result, which is often entirely contradictory to the intentions of the people who created...
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America’s Debt to China and Japan


Monday June 27th, 2016   •   Posted by Craig Eyermann at 6:24am PDT   •   0 Comments

It’s a well established fact that unlike previous U.S. Presidents, President Barack Obama made an unusual practice of bowing to foreign leaders, and particularly China’s and Japan’s leaders as he greets them, which is a major breach of diplomatic etiquette in that by doing so, the President appears to be acknowledging that he is...
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The Federal Student Loan Disaster


Friday June 24th, 2016   •   Posted by Craig Eyermann at 6:53am PDT   •   0 Comments

According to the U.S. Treasury Department, the federal government has borrowed over $1.036 trillion to loan money to U.S. college students through the Federal Direct student loan program through April 2016, with over 86% of that amount having been added since January 2009. David Jesse of the Detroit Free Press reports that for the...
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VA Supervisors Fight Against Accountability


Monday June 20th, 2016   •   Posted by Craig Eyermann at 6:46am PDT   •   0 Comments

According to a new whistleblower, supervisors at the the U.S. Department of Veterans Affairs’ central office are abusing their power in ways that include physical and verbal intimidation, sexual harassment, and orders to their staff to not cooperate with Congressional investigations of wrongdoing at the federal government entity. Ashleigh Barry of Phoenix’ KPHO/KTVK News...
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