Posts by Craig Eyermann
Craig Eyermann is a Research Fellow at the Independent Institute and the creator of the Government Cost Calculator at MyGovCost.org.
Federal PPP Loans Put Corrupt Hands in the Till


COVID-19 has taught us that the government is bad at spending money. It might be different if it could target money where it’s needed most. But federal bureaucrats lack that ability. Because they do, billions have gone to waste. That waste has left millions of needy Americans in the lurch. Let’s start with the...
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COVID-19 and the Budget Deficit


The U.S. Treasury Department has just released the final statement for its 2020 fiscal year. I knew going in it was going to be bad because of the impact of COVID-19. Having now seen it, all I can say is that how bad it is, is a thing to behold. It is the most...
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A Coronavirus Spending Scandal


Seven months ago, the U.S. Congress rushed to pass the CARES Act, a $2 trillion emergency spending package that funded hundreds of coronavirus relief programs meant to help regular Americans cope with the impact of the pandemic. The coronavirus pandemic has proven one thing about that spending: The federal government is not very good...
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National Debt to Nearly Double GDP by 2050


The Congressional Budget Office has finally released its 2020 Long Term Budget Outlook. Delayed for months, the CBO’s budget analysis confirms the coronavirus recession has made the U.S. government’s fiscal situation much worse. How much worse? In its 2019 outlook, the CBO expected the publicly held portion of the debt would hit 144 percent...
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The First Green New Deal


Chester Nez grew up on the “Checkerboard,” an area of land broken up into privately owned plots adjacent to the Navajo reservation in northern New Mexico. There, his family tended its herds of sheep and goats, eking out a living through subsistence farming, much as their Navajo ancestors had done in the difficult environment....
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How COVID-19 Blew a Hole in the Federal Budget


The Congressional Budget Office has just released a dismal update of the 10-year budget projections it released just six months ago. The update reveals how much the U.S. government’s fiscal outlook has changed for the worse because of COVID-19. That impact starts with a picture of just how big a hole COVID-19 has blown...
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Tracking Waste in the Paycheck Protection Program


At $541 billion, the Paycheck Protection Program (PPP) is the largest component of the federal government’s emergency COVID-19 relief program. That’s an absolutely massive amount of money for politicians and bureaucrats to spend under normal circumstances, much less today’s. If the PPP were a regular discretionary line item expenditure in the federal budget, it...
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Stalled Relief Bill Would Hike US Debt and Crush Fiscal Accountability


Earlier this year, the U.S. Congress passed the $2 trillion CARES Act to provide emergency relief for the coronavirus pandemic. Several months later, many of the relief programs that bill established are set to run out of funds. Right now on Capitol Hill, gridlock reigns because Democrats and Republicans cannot agree on how much...
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California Bullet Train Bridge a “Horrible Sequence of Mistakes”


California Governor Gavin Newsom’s diminished dream of connecting the city of Merced (population 83,964) to Bakersfield (population 390,233) has hit a snag. Several steel cables in a 636-foot-long bridge built to support construction of the project have corroded and snapped, forcing a new work stoppage on the years-long delayed project.

Paycheck Protection Program a Costly Mess


By Washington, D.C., standards, the Paycheck Protection Program (PPP) is a success. The program funded over $659 billion of loans to small businesses so they could avoid laying off employees because of state and local lockdown orders. Small businesses that take out PPP loans can also receive a unique bonus: As long as the...
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