Craig Eyermann is a Research Fellow at the Independent Institute.
Members of the Biden-Harris administration went on a massive spending bender during their final four months in office. By that, I mean they figuratively blew a hole in the U.S. government’s budget as they headed out the door. This assessment is not included in the January 2025 Monthly Treasury Statement, which provides data on the...
The Biden-Harris administration left the fiscal situation of the U.S. government in a world of hurt. In January 2025, the Congressional Budget Office projected federal budget deficits will range between 5.5 and 6.5% of GDP during the next 10 years under current law. These figures compare with an average budget deficit of 3.8% of GDP...
The devastating wildfires experienced by the people of southern California have left behind many indelible pictures of destruction in recent weeks. But perhaps one picture above all tells the truest tale of the catastrophe: the empty reservoir at Santa Ynez. “This was supposed to be the water to put out the Palisades fire,” stated the...
The U.S. government got off to a very bad start for its 2025 fiscal year. The U.S. Treasury Department reported that the federal government spent $257 billion more than it took in as revenue in October 2024. That is the second-worst figure ever recorded for the first month of the fiscal year. Only October 2020...
The scale of fraud against U.S. taxpayers during the coronavirus pandemic amounts to billions, possibly even trillions of dollars. Count the Internal Revenue Service among the government agencies that enabled the frauds that were perpetrated. The numbers aren’t small, as Reason’s J.D. Tucille reports: You can add the Internal Revenue Service to the ranks of...