MILLS: Massive Regulation a Drain on Economy, Study Finds

USA Today covers Ten Thousand Commandments.

Regulations are a burden on consumers, businesses, and the economy, according to a new study by the Competitive Enterprise Institute entitled “Ten Thousand Commandments.”

The financial burden has become so large – $1.9 trillion annually for regulatory compliance and economic impact – that if U.S. regulation was a country, it would be the world’s seventh-largest economy, ranking behind India and ahead of Italy.

The federal government spent $63 billion in fiscal year 2016 just to administer the federal regulatory state.

Even though many believe Congress passed very few laws last year, Congress enacted 214 laws. That is more than one per day in the 146 days the House was in session in 2016.

Read the full article at USA Today.