Washington’s new motto is: When you run out of other people’s money, keep spending anyway.
It’s a sad state of affairs when a national debt approaching $28 trillion is not already regarded as sufficient “stimulus” spending, particularly when so little of the latest bailout package will go toward credible COVID-recovery efforts.
Former president Donald Trump tried to freeze regulatory costs, to the extent of even arguably saving hundreds of billions annually, with his “one-in, two-out” order, which asked that two regulations be repealed for every new one that was introduced.
President Joe Biden predictably scuttled that on Day One with executive order of his own entitled, “Revocation of Certain Executive Orders Concerning Federal Regulation.”
But Biden’s early removal of public safeguards against an ambitious administrative state contained another more consequential move about which American businesses need to be aware.
There are a few dozen laws passed at the federal level every year, but over 3,000 regulations issued by unelected federal bureaucrats. (These were the regulations that Trump tried to streamline.)
Read the full article at National Review.