Forget Taxes, Obama's Regulations Are Strangling the Nation
The wild creation of regulations by the Obama administration has stalled economic growth and made the nation’s rulemaking the responsibility of unelected bureaucrats. Two reports released this week show the staggering extent of how debilitating these regulations are. Every year, the Competitive Enterprise Institute releases its report on the nation’s “Ten Thousand Commandments.” This year, Clyde Wayne Crews, the vice president for policy for CEI, reports that the regulatory burden averages out to $14,976 per American household. If America’s regulations were a country, it would have the 10th largest economy, beating out India. Barack Obama has tied the country in red tape because, while 224 laws were passed in 2014, the government plastered up 3,554 regulations. Furthermore, “A problem with cost-benefit analysis is that it relies primarily on agency self-reporting. Having agencies audit their own rules is like asking students to grade their own exams. Regulators are disinclined to emphasize when a rule’s benefits do not justify its costs,” CEI’s study says.
These regulations make the federal deficit unmanageable, and The Wall Street Journal pins the problem of America’s stalled economy on too much regulation in the system. Meanwhile, a Heritage Foundation study finds that Obama’s major regulations cost Americans $80 billion a year — and there are more regs in the works, such as another redesign of the light bulb. To fix the problem, Congress needs to insist that it is the lawmaking body of the country, not nameless bureaucrats in the executive branch.