Author Archive: Craig Eyermann

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

How to Rack Up $18 Trillion in Debt and How to Pay It Down

Friday March 27th, 2015   •   Posted by Craig Eyermann at 6:21am PDT   •   0 Comments

We’ve answered the following question that was recently asked at Quora: How did the USA end up with $18,000,000,000,000 of debt? More importantly, can the US government pay back the debt? The United States federal government has ended up with a total public debt outstanding of more than $18 trillion (at this writing) because...
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Who Owns the ‘Public’ Portion of the National Debt

Tuesday March 24th, 2015   •   Posted by Craig Eyermann at 6:15pm PDT   •   0 Comments

At the end of its 2014 fiscal year, the total public debt outstanding of the U.S. government stood at $17.860 trillion. That amount, however, consists of two parts: “Debt Held by the Public” and “Intragovernmental Holdings”. The Intragovernmental Holdings portion of the debt is really made up of a number of trust funds that...
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Comparing the Budget Proposals

Friday March 20th, 2015   •   Posted by Craig Eyermann at 11:41am PDT   •   0 Comments

Earlier this week, both the U.S. House of Representatives’ and the U.S. Senate’s budget committees released their own respective budget proposals for the federal government’s 2016 fiscal year, which when combined with President Obama’s spending proposal from February, means that we now have three different proposals of what the future trajectory of the federal...
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Gold Sickness at the U.S. Treasury

Tuesday March 17th, 2015   •   Posted by Craig Eyermann at 7:22am PDT   •   0 Comments

Beginning yesterday, the U.S. Treasury Department began its now-routine use of “extraordinary” measures to slow down the rate at which it borrows money to keep the nation’s total public debt outstanding below the limit set by Congress. In announcing those measures, Treasury Secretary Jack Lew ruled out some common-sense suggestions that members of Congress...
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MyGovCost Updated!

Friday March 13th, 2015   •   Posted by Craig Eyermann at 8:06am PDT   •   0 Comments

We’ve been busy behind the scenes here at the MyGovCost project at the Independent Institute, as we’ve just completed our major annual update to the MyGovCost Government Cost Calculator! The MyGovCost Government Cost Calculator is the only tool available for you, the ordinary taxpayer, to get a sense of what the U.S. government’s expected...
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Trends for Federal Taxes and Spending

Tuesday March 10th, 2015   •   Posted by Craig Eyermann at 6:44am PDT   •   0 Comments

We’re going to summarize the biggest takeaway from the CBO’s latest update to its budget projections with a single chart: Note that the trend for revenues flattens out after 2016, when most of the tax hikes that are mandated as part of the Patient Protection and Affordable Care Act (a.k.a. “Obamacare”) are fully implemented....
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The Shell Game Starts Again

Saturday March 7th, 2015   •   Posted by Craig Eyermann at 9:09am PDT   •   0 Comments

Whenever the U.S. government’s cumulative spending reaches the point where the national debt racked up to support it nears the nation’s debt limit ceiling, it creates problems for the U.S. Treasury Department, because it has to resort to playing a shell game with the accounts it controls to keep the nation’s debt under that...
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Bureaucrats Behaving Badly — A Follow-up

Tuesday March 3rd, 2015   •   Posted by Craig Eyermann at 1:53pm PDT   •   0 Comments

We’re returning to the troubles of EPA Administrator Gina McCarthy today, because she’s made the news again due to her oversight at the out-of-control government agency. CBS News reports: In the private sector, if you’re caught viewing porn on company time or intimidating a co-worker, you’d probably be fired immediately; not so if you’re...
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A Violation of the Antideficiency Act?

Thursday February 26th, 2015   •   Posted by Craig Eyermann at 8:31pm PDT   •   0 Comments

Under federal law, no agency or department can spend money on any discretionary purpose without authorization by the Congress of the United States. But apparently, when it comes to spending money to prop up the Affordable Care Act, neither the U.S. Treasury Department nor the Department of Health and Human Services can apparently be...
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How Much Will Obama’s Executive Action on Immigration Cost?

Tuesday February 24th, 2015   •   Posted by Craig Eyermann at 6:16am PDT   •   0 Comments

Comparing the spending in President Obama’s budget proposal for 2016 with his budget proposal for 2015 is turning out to be a very interesting exercise. It’s one that may shed much light on future spending for the roughly 5 million undocumented immigrants subject to the president’s controversial executive action on immigration announced last November....
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