Anybody who wonders why the U.S. economy continues to stagger along with 9 percent unemployment and an anemic 2 percent quarterly growth rate need look no further than the U.S. Environmental Protection Agency.
Under President Obama’s hand-picked administrator, Lisa Jackson, EPA is hog-tying the economy with dozens of proposed major new rules. One of them, which is aimed at coal-fired power plants that generate electricity, will add at least $18 billion in compliance costs by 2020. As Kathleen White of the Texas Public Policy Center told the House Energy and Commerce Committee earlier this year, “never in its 40-year history has EPA promulgated — at the same time — so many costly new regulatory dictates. The rules on track to go into effect in the next three years could cost more than $1 trillion and result in hundreds of thousands of jobs lost.”