The Boston Harold cites the Competitive Enterprise's report that details the cost of federal regulations on American consumers and businesses.
Yet while technology has certainly advanced since then, it has been far surpassed by the growth of our government. The massive regulatory state has stifled countless entrepreneurs and innovators since Doc Brown and Marty McFly’s heyday.
As a result, the boundless possibilities we saw in “Back to the Future” have too often been held back by bureaucratic proliferation.
Just look at the explosion in federal regulations. According to the Competitive Enterprise Institute, last year there were 77,687 pages of federal regulations that cost American consumers and businesses nearly $1.9 trillion. The Obama administration alone has added over $600 billion in annual economic costs.
That’s money that could develop the next world-changing technology, surpassing the personal computer, the iPhone, or the self-driving car. Instead, it’s going to lawyers, accountants, and lobbyists — none of whom move America forward.