Obama regs cost 20-times estimate
“While OMB officially reports amounts of only up to $88.6 billion in 2010 dollars,” said Crews, “the non-tax cost of government intervention in the economy, without performing a sweeping survey, appears to total up to $1.806 trillion annually.” But, he added, “according to back of the envelope surveys and roundups, with gaps big enough to fit the beltway through, that up to $1.806 trillion annually and in many categories perhaps even considerably more, is a defensible assessment of the annual impact on the economy.”
Imagine that. Of course, no burden is too big for our Progressive friends who believe that profits are evil, should be regulated or constrained or perhaps eliminated altogether. But of course it’s well worth it…
The wave of Obama regulations has become a huge sore point in the business world with groups as large as the U.S. Chamber of Commerce down to the International Franchise Association crying for fewer rules. The administration, however, argues that the rules and regulations pushed out under the president have made products and workplaces safer.
