“Most of the country is focused on our spending and debt problem, but unless we also address our nation’s regulatory burden, our economy will remain under water,”
Check it out:
The Competitive Enterprise Institute (CEI) this week released its annual Ten Thousand Commandments report on the size and scope of federal regulations.
According to the report, federal regulations took a $1.863 trillion bite out of the U.S. economy in 2013. The report aims to establish a baseline for the largely unknown “hidden tax” of the U.S. regulatory state, since more than 99 percent of federal regulations are never subjected to cost-benefit analysis.
“Federal agencies crank out thousands of new regulations every year, but we have little information on the cost or effectiveness of most of them,” said report author Clyde Wayne Crews Jr. “There is little transparency and no reliable source of information on exactly what benefits all these rules are supposed to be generating or if they are serving their intended purpose.”