Author Archive: Craig Eyermann

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

What If the U.S. Defaulted on the National Debt?


Saturday May 23rd, 2015   •   Posted by Craig Eyermann at 3:30pm PDT   •   0 Comments

What would happen if the U.S. government defaulted on making payments on any portion of the $18.1 trillion it has borrowed? That’s a question the Federal Reserve asked not so long ago, and just in case it ever might happen, the Fed created an emergency plan to deal with the situation. Reuters reports: In…
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Spring 2015: To Whom Does the U.S. Government Owe Money?


Tuesday May 19th, 2015   •   Posted by Craig Eyermann at 6:29am PDT   •   0 Comments

On Friday, 15 May 2015, the U.S. Treasury identified the national origins of the major foreign holders of debt issued by the U.S. government through the end of March 2015, the halfway point of the federal government’s fiscal year. With that information, we can now update our chart showing just who has loaned the…
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Tax Rules Too Complicated for IRS to Explain


Wednesday May 13th, 2015   •   Posted by Craig Eyermann at 7:19am PDT   •   0 Comments

It is something of an understatement to say that the U.S. tax code is both very big and very complex, but did you know that the U.S. Internal Revenue Service believes that to be so true that it actually prohibits its employees from providing guidance on tax code matters via social media, the preferred…
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Social Security Going Broke Faster


Sunday May 10th, 2015   •   Posted by Craig Eyermann at 6:33am PDT   •   0 Comments

Big news regarding the true state of Social Security’s finances from CNBC: New studies from Harvard and Dartmouth researchers find that the SSA’s actuarial forecasts have been consistently overstating the financial health of the program’s trust funds since 2000. […] Researchers examined forecasts published in the annual trustees’ reports from 1978, when the reports…
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Unexpected Perks of Being a Government Bureaucrat


Friday May 8th, 2015   •   Posted by Craig Eyermann at 7:31am PDT   •   1 Comment

Every year, thousands of regular Americans are prosecuted by government prosecutors for the kinds of activities that, for government bureaucrats, would seem to be considered to be perks of being on the federal government’s payroll. For example, in 2012, the most recent year for which the FBI provides arrest statistics, there were 7,900 arrests…
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The Government versus Infrastructure


Tuesday May 5th, 2015   •   Posted by Craig Eyermann at 6:55am PDT   •   0 Comments

We’ve answered another question at Quora, this time related to the perception of why there haven’t been any recent large-scale innovative infrastructure or civil projects in the United States. As you’ll see in our response, there actually have been, but there’s also a very good explanation for why we don’t have a better civil…
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Congress Reached a Budget Deal?


Saturday May 2nd, 2015   •   Posted by Craig Eyermann at 10:48am PDT   •   0 Comments

For the first time since 2009, the U.S. Congress has done something amazing with respect to the budget of the U.S. government. It reached a deal to even have one! WASHINGTON — Congressional Republicans announced Wednesday that negotiators have reached a deal to reconcile House and Senate budgets plans, which, if approved, would mark…
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The Unchanging Incentives of Bureaucrats


Tuesday April 28th, 2015   •   Posted by Craig Eyermann at 7:59am PDT   •   0 Comments

It has been nearly a year since we first weighed in on the Veterans Affairs (VA) scandal. In that post, we discussed how incentives for bonuses led federal employees and managers to implement a bizarre rationing scheme that effectively denied timely medical treatment to former American military personnel by shunting them onto secret waiting lists…
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The Tax Hikes of Obamacare


Friday April 24th, 2015   •   Posted by Craig Eyermann at 7:12am PDT   •   0 Comments

Because we mentioned the new taxes imposed by the Affordable Care Act (a.k.a. “Obamacare”) in a recent article, we thought we ought to share the Heritage Foundation’s visualization of how its $800 billion worth of new taxes are being phased in over the 10 years from 2013 through 2022: The chart above is part…
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The Deficit Stops Shrinking


Tuesday April 21st, 2015   •   Posted by Craig Eyermann at 8:12am PDT   •   1 Comment

While the U.S. government’s 2015 fiscal year is now half over, the days of a shrinking budget deficit now also appear to be over as well. The Washington Examiner‘s Joseph Lawler reports: The federal budget deficit through the first half of fiscal year 2015 totaled $430 billion, the Congressional Budget Office said Tuesday, $17…
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