Cost of regulations under Obama reach $1.9 trillion, $14,842 ‘hidden tax’ on every family

The Washington Examiner reports on Clyde Wayne Crews's annual analysis on the costs of regulation. 

The annual "Ten Thousand Commandments" report from the Competitive Enterprise Institute said that there were 30 new rules issued for every single law passed last year.

If it were a country, U.S. regulation would be the ninth-largest economy, ranked behind India and ahead of Russia," wrote Clyde Wayne Crews Jr., vice president for policy. He said the total bill is higher than Canada's gross domestic product.

His annual report shines a light on the burden of red tape, regulations and rules, and uses real numbers to show the impact on business and ordinary Americans, a growing crisis that GOP presidential candidate Donald Trump has begun to focus on.

The report finds that the cost of regulations are three times the national deficit. And it notes that businesses generally pass on the costs to consumers.

"Firms generally pass the costs of some taxes along to consumers. Likewise, some regulatory compliance costs borne by businesses will find their way into the prices consumers pay, affect the wages workers earn, and lead to lower levels of growth and prosperity," wrote Crews.

Read the full article at the Washington Examiner.