The Atlantic Highlands Herald discusses Wayne Crews's report on the size of the federal regulatory burden.
This topic crosses the eyes of the man on the street. I hear people say, “It’s what government does. So what?” Yes, government does this, but under Mr. Obama the “dismal science” has been greatly expanded. Little attention is paid to the cost added to business’s expenses by those regulations, and no government accountability is required or expected. Fortunately, various think-tanks and business organizations track the extent of regulations and their estimated cost to business. One such group is The Competitive Enterprise Institute, which has authored a report called “The 10,000 Commandments.” Its findings show that federal regulations now impose an annual cost of $1.2 trillion on American business. Not well-understood by the average citizen is the fact that this staggering sum is passed on directly to consumers in the form of higher prices. Typically, businesses do not swallow these costs. No doubt some regulations – like those mandating pollution controls and worker-safety – serve a useful public purpose. But there is always the question of cost-benefits and reasonable bounds. Congress needs to exercise proper oversight on these matters. Until it starts doing so in a serious way, federal regulations will remain a serious (and growing) drag on the economy.
Read the full article at the Atlantic Highlands Herald.