Thursday, June 2, 2016
You Won't Believe How Much the Obama Admin's New Regulations Will Cost the Economy
With the Obama administration nearing its end, many Americans are rejoicing that they soon will no longer have to deal with its radical regulatory agenda – but the worst may be yet to come.
Last year set records for the number of new regulations passed, and the president intends to pick up the pace of his rule-making without any input from Congress. The administration is considering 4,000 new regulations this year, 144 of which could cost the economy more than $100 million each.
To put those 144 high-cost regulations in perspective, there were a total of 126 such rules set in the final three years of the George W. Bush administration.
Excessive regulation comes with real costs for American families. The Mercatus Center reported recently that if regulations had been held constant at 1980 levels, the U.S. economy would be $4 trillion larger, translating to $33,035 more per household.