Author Archive: Craig Eyermann

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

Not Getting the Job Done


Friday April 17th, 2015   •   Posted by Craig Eyermann at 6:29am PDT   •   0 Comments

CBS MarketWatch’s Brett Arends recently featured a number of “brain-busters” in a Question & Answer-style format related to findings that the U.S. General Accountability Office has made regarding the occurrence of waste, duplication and inefficiencies in the U.S. federal government’s operations in his column. We went through each of the items and selected those...
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Tax Freedom Day Delayed in 2015


Tuesday April 14th, 2015   •   Posted by Craig Eyermann at 6:41am PDT   •   0 Comments

In the United States, Tax Day, April 15, marks the deadline for Americans to file their income tax returns for what they earned in the previous calendar year. Tax Freedom Day, however, marks the day after which the average American begins earning money that he or she can spend on things other than taxes,...
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The Tax Code Grows Bigger


Friday April 10th, 2015   •   Posted by Craig Eyermann at 10:43am PDT   •   0 Comments

Over the past decade, Wolters Kluwer, the publishers of the CCH Standard Federal Tax Reporter, a leading publication for tax professionals that summarizes the administrative guidance and judicial decisions issued under each section of the U.S. tax code, has created an infographic to convey just how many pages it takes to explain the nation’s...
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Bureaucrats Cheating Uncle Sam


Tuesday April 7th, 2015   •   Posted by Craig Eyermann at 3:53pm PDT   •   0 Comments

Now that we’re well into tax season, we thought this would be a good time for a tax cheat edition of our ongoing “Bureaucrats Behaving Badly” series! Today’s episode features the unfortunate situation where both current and retired employees of the U.S. federal government aren’t paying the taxes they owe to the U.S. government....
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Financial Repression


Friday April 3rd, 2015   •   Posted by Craig Eyermann at 10:00am PDT   •   0 Comments

After a nation’s government has racked up far more debt than it can ever hope to pay back, what options does it have to climb out of the hole it dug for itself? After reviewing a new academic paper by Carmen Reinhart and M. Belen Sbrancia, The Liquidation of Debt, former Drexel University finance...
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A Simple Model for U.S. Spending Restraint


Tuesday March 31st, 2015   •   Posted by Craig Eyermann at 6:59am PDT   •   1 Comment

Last week, we suggested that the U.S. government could “rather painlessly” pay down the national debt if it adopted a policy where it restrained the growth rate of government spending to be less than the growth rate of the nation’s GDP. Let’s take a closer look at how that might work in practice. Let’s...
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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   •   2 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   •   1 Comment

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   •   2 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   •   1 Comment

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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