Even after stunning October jobs report, regulations are holding the economy back
Watchdog.org reviews October national jobs report and discuses the issue with Iain Murray who claims regulations may be slowing down economic growth.
Iain Murray, a vice president at Competitive Enterprise Institute, warns that may very well be the case. In looking back at periods of economic growth following recessions, this recovery is still going slower than expected.
In fact, as Murray points out, the economy would have to add about 516,000 jobs per month to match the average pace of economic recovery at this post-recession stage, according to Congress’ Joint Economic Committee.
“When the nation went into recession in the early 1980s, high taxes were the largest supply-side problem to creation of new jobs. President Reagan worked with Congress to cut taxes significantly, and the result was the Reagan boom,” Murray wrote. “Clearly, overly burdensome regulation is the largest supply-side problem today.”