New Report Reveals the Crushing Costs that Federal Regulations Impose on Average Households
The Washington Examiner cites Vice President for Policy Wayne Crews on CEI’s 2020 10kc report:
Free market conservatives and libertarians well understand the perils of excessive red tape and an unchecked regulatory state in the abstract. But a new report makes clear the true cost of overregulation for real people. The figures are quite striking.
The report, Ten Thousand Commandments 2020: An Annual Snapshot of the Federal Regulatory State, was published this week by the Competitive Enterprise Institute, a free market think tank. The study’s author, Clyde Wayne Crews, pored over publicly available private and government data to evaluate and estimate the size, scope, and cost of our current regime of federal regulations.
He concludes that the aggregate cost of federal regulation is, at a minimum, $1.9 trillion. To put this number into context, a country with a $1.9 trillion GDP would have the ninth-largest economy in the world!