Author Archive: Craig Eyermann

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

Introducing “Bankruptcy Lite”!

Thursday October 12th, 2017   •   Posted by Craig Eyermann at 6:25am PST   •   0 Comments

Earlier this week, we mentioned that if a fiscally strapped local government cannot tax or cut its way out of its debt burden, and won’t take action to directly reduce its most costly liabilities, then bankruptcy is a viable third option to preserve the interests of those who reside within the government’s jurisdiction. But...
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What Is Your City’s Debt Burden?

Monday October 9th, 2017   •   Posted by Craig Eyermann at 6:11am PST   •   0 Comments

What is your local government’s debt burden? Or in other words, how much of your local government’s annual revenue would be fully consumed by its liabilities? That’s a question that J.P. Morgan took on in its recent analyst report The ARC and the Covenants 3.0, in which it considered the total debt burdens of...
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Bureaucrat Flights of Fancy

Thursday October 5th, 2017   •   Posted by Craig Eyermann at 6:29am PST   •   0 Comments

Government bureaucrats like to set up special rules to benefit themselves, and nowhere has that been more evident in the past week than in the reaction to the reports of Department of Health and Human Services Secretary Tom Price’s use of taxpayer funding to charter private jets for highly questionable “business” travel. Dan Diamond...
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Congress Closing In on a Budget for 2018

Monday October 2nd, 2017   •   Posted by Craig Eyermann at 5:45am PST   •   0 Comments

On Friday, September 29, 2017, after months of dysfunctional delay, the U.S. Senate finally got around to passing its own version of a budget blueprint for the U.S. government’s 2018 fiscal year, which officially got underway on Sunday, October 1, 2017. Politico‘s Sarah Ferris describes some of the politics that are built into the...
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What Happens When the Emergency Reservoir Runs Dry

Thursday September 28th, 2017   •   Posted by Craig Eyermann at 6:09am PST   •   0 Comments

Several years ago, MyGovCost explored the concept of the national debt as kind of an emergency reservoir, which is an idea that we’re going to revisit today to apply to the unique situation in which the hurricane-devastated U.S. territory of Puerto Rico finds itself. What if, instead of being some seemingly intangible thing involving...
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Does America Need a “Space Corps”?

Monday September 25th, 2017   •   Posted by Craig Eyermann at 6:36am PST   •   0 Comments

We’re coming up on the sixtieth anniversary of the old Soviet Union’s launch of its Sputnik satellite next month and the U.S.’ first successful launch of a satellite into Earth orbit in response one failed attempt and three months later. Since then, the U.S. has been to the Moon, launched dozens of probes across...
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How to Chip Away at the U.S. Government’s Debt to Apple

Thursday September 21st, 2017   •   Posted by Craig Eyermann at 6:40am PST   •   0 Comments

According to CNBC, Apple Computer has loaned the U.S. government over $52.6 billion, where if the company were a foreign country, it would rank 22nd among the major foreign holders of the publicly-held portion of the U.S. government’s total public debt outstanding. That amount is just 0.2% of the entire public debt outstanding as...
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National Debt Passes Grim Milestone, but Growth Slows

Monday September 18th, 2017   •   Posted by Craig Eyermann at 6:42am PST   •   0 Comments

The U.S. government’s total public debt outstanding finally surpassed the grim milestone of $20 trillion on September 8, 2017, following President Trump’s surprising deal with Congressional Democrats to suspend the statutory debt ceiling through December 15, 2017. On that Friday, the national debt jumped by $317.6 billion to reach $20.16 trillion. The total public...
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Government Nearing Default on Debt to Russia

Thursday September 14th, 2017   •   Posted by Craig Eyermann at 6:15am PST   •   0 Comments

The government in question is that of Venezuela, which is nearing default as it is running out of resources to pay back the money it owes to its Russian creditors according to the terms it accepted when it chose to borrow money from them. MOSCOW, Sept 8 (Reuters) – Russian Finance Minister Anton Siluanov...
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Dealing Away the Debt Ceiling

Monday September 11th, 2017   •   Posted by Craig Eyermann at 6:06am PST   •   0 Comments

Following up President Trump’s surprising deal with Congressional Democrats to suspend the U.S. government’s statutory debt ceiling through December 15, 2017 as part of providing funding to support hurricane damage relief in Texas, Louisiana and Florida, President Trump also appears to have reached a “gentleman’s agreement” to permanently eliminate the statutory debt ceiling altogether....
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