It's Time for Trump to Undo Obama's Regulations
What Obama did by the pen can die by the pen.
There are many truths that Democrats will never accept, such as those regarding the burden regulations are on the economy. Rule of Law, including some regulation, is indeed necessary. But in the collective mind of the Left, the government must “level the playing field” — by which they mean create better conditions for their favored types of business.
A regulation, in reality, functions as a tax on a business or organization. Whether negatively impacting productivity, increasing costs for implementation and routine compliance or hidden fees built within, regulations levy a cost. Many regulations kill jobs.
During Barack Obama’s tenure, the growth of malignant regulations has been deadly to business. Coupled with the monumental failure of ObamaCare and its ripple effect, there should be no surprise that a record number of able-bodied adults are out of the labor force — more than 95.1 million.
Knowing the toxic effect to the economy and jobs, Donald Trump has promised to repeal two regulations for every one that his administration might implement.
Given the rate and severity with which the Obama administration issued regulations, Trump will need to keep that promise.
The Federal Register, the daily journal of actions of the U.S. government, had 80,260 pages of rules, regulations and laws in 2015. Setting his own record, Obama’s bureaucracy added 3,852 new federal regulations just in 2016 alone with the published chronicle totaling 97,110 pages by year’s end. For each of the 211 laws passed by our elected representatives in Congress this past year through the open legislative process, Obama and his unelected bureaucrats passed 18 new rules or regulations by dictate and dictation. Eighteen to one is a ratio of death for business.
So what did these regulations cost businesses? According to the American Action Forum, this last-minute whirlwind of devastation and taxation cost American businesses $44.1 billion.
In May last year, the Heritage Foundation published a report, “Red Tape Rising: Obama Regs Top $100 Billion Annually.” The report highlighted some of the more egregious rules that we’ll assist our president-elect by noting for a quick reference:
- Citing the 1934 Communications Act, Net Neutrality permits the Federal Communications Commission to prevent any practice not deemed fair in the previously unregulated world wide web.
- The EPA’s Clean Power Plan was specifically aimed at destroying coal-burning power plants with a projected cost of an additional $366 billion. That has increased energy costs to American families and, obviously, eliminated jobs.
- The EPA’s Clean Water Act sounds honorable but permits the overreaching radical agency to literally regulate a mud puddle by identifying as bodies of water “isolated wetlands, ponds and ditches.” The American farmer and those attempting to manage land for construction and development have been hardest hit with this nightmare.
- Dodd-Frank, created in response to the risky investment products of the 2008 financial crisis with failing banks and bad debt, the name alone represents the horrific regulatory web that institutionalized “too big to fail.”
This short list is by no means exhaustive, but offers a significant starting point. Just last week, the House passed a bill, the Midnight Rules Relief Act, that will slow eleventh-hour imperialistic dictates put in place by any presidential administration. If the Senate manages to pass the legislation, large numbers of these parting shots may be overturned as a package versus through a one-by-one basis of repeal.
As Trump tweets and talks on his cell to CEOs of major American companies about the enticement of locating a portion of their production or operations outside the U.S., regulations are certainly part of the conversation. When the Regulator in Chief, Barack Obama, is out of the White House, the prospects of a true leveled playing field grow regarding the elimination of excessive regulation that no other global competitor imposes.
A word of caution on the Trump economy around the corner. Already, common sense and forthright discussions have served to keep companies like Carrier and Ford at home, among other companies in the deal-making pipeline. As the promise of jobs materializes in America, a little record-keeping technicality may offer fodder for the Leftmedia to chew on.
As of December 2016, the headline unemployment rate is 4.7%.
That “official” Bureau of Labor Statistics unemployment rate, known as U-3, includes only those adults who sought work during the last four weeks. The more accurate statistic capturing the unemployed actively seeking work, those who are working but are underemployed by part-time or out-of-skill set, or those who’ve abandoned the hopes of a job completely, are measure by U-6. Contrast the U-3 headline rate of 4.7% to the more accurate U-6 measured at 9.2%.
When these out-of-work folks who see better prospects enter the job market, there may actually be an uptick in the U-3 unemployment. Oh, the fun the Presstitutes and the Cupcake Nation full-time protesters will have with a slight of hand that will serve their narrative. However, that narrative will be short-lived as incomes and spending will increase as jobs are filled with many of these 95-plus million who are currently outside the American workforce.
A Ronald Reagan quote that too many Republicans have abandoned and Democrats have soundly rejected perfectly fits Trump’s opportunities ahead. Applied to spending, taxing and regulating, America’s 40th president was piercingly accurate: “You can’t be for big government, big taxes and big bureaucracy and still be for the little guy.”
Let the new economy commence!