Obama’S Promised Regulatory Reforms Are A Joke

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Investors Business Daily:

The Obama administration has been in all-politicking-all-the-time mode for months. Many of their pronouncements strain credulity.

 

 

Last August, regulatory czar Cass Sunstein announced rule changes to supposedly "save U.S. businesses billions of dollars in regulatory burdens." But contrary to his assertions, the regulatory review that led to these changes was neither "unprecedentedly ambitious" nor likely to have a significant effect on the economy.

 

Sunstein claimed that the regulatory relief will save business $10 billion over five years.

But many of the changes are political sleight-of-hand, and in any case the most recent analysis by the Small Business Administration estimated the cost of compliance with federal regulation at a staggering $1.75 trillion annually.

 

In fact, stultifying, job-killing regulation has been a hallmark of the Obama administration.

According to economist Susan Dudley, who during the previous administration held Sunstein's job, "Over the first two years of (Obama's) term, the federal government issued 132 economically significant regulations (defined as having impacts of $100 million or more per year). That averages out to 66 major regulations per year, which is dramatically higher than the averages issued by President Clinton (47 per year) or President Bush (48 per year)."

 

Moreover, she notes that the Obama administration's most recent agenda of upcoming regulations, which was issued in July, does not indicate a slowing of activity.

Quite the contrary; government regulation is one of the nation's few growth industries, making a mockery of the assertions and predictions of political appointee Sunstein, who was once a respected academic.