Where the Cheering Stopped

Voters didn’t like the State of the Union address as much as reporters did.

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CEI’s Wayne Crews is cited in The Wall Street Journal on the State of the Union address:

Budgets Are About Priorities
Wayne Crews writes for the Competitive Enterprise Institute on the difference between the White House budget proposal and the one issued by House Republicans:

The big-picture takeaway from these rival proposals is that, while Biden somewhat unpersuasively proposes to reduce cumulative deficits $3 trillion over the coming 10 years, the GOP proposes reducing deficits by $14 trillion, and to deliver a $44 billion surplus in 2034. The last budget surplus anyone saw was back during the Clinton administration.

Mr. Crews also notes that it’s “refreshing to see an extended case for regulatory streamlining incorporated into the House budget resolution.” He adds:

The policy statement highlights the pervasive influence of costly regulation from over 400 departments, agencies and commissions on the nation’s economic and fiscal landscape, and notes how these rules affect small businesses, constrain energy production and influence labor markets…

The House Budget Committee’s concurrent resolution for fiscal year 2025 states:

Real (inflation-adjusted) spending on regulatory agencies has increased from $4 billion in 1960 to almost $70 billion in 2021 – 17 times the 1960 funding level.

Read the full article on The Wall Street Journal.