Why the U.S. economy is headed for a double dip

September 19, 2011 16:40

“the regulatory process is broken” and that it is “being manipulated and exploited in an effort to reward allies of the Obama administration such as environmental groups, trial lawyers and unions.” – Washington Examiner

Washington Examiner Editorial | 09/18/11


“The Obama Administration has created a regulatory environment that is suffocating America’s entrepreneurs’ ability to create jobs and grow businesses, … This regulatory tsunami has caused job creators to lock down at a time when we need them to expand. The committee has found that the problems created by this regulatory tsunami goes far beyond the cost of the regulations themselves, but also include breakdowns in the regulatory process itself that is having a severe impact on large and small businesses alike.”

Specifically, the panel found at least 219 “economically significant regulations in the pipeline, which if finalized, will impose costs of $100 million or more annually on the economy.” That’s a minimum of $219 billion in added costs to do business in this country over the next decade. Even worse, the panel found the Obama bureaucrats have already imposed 75 major new regulations that are projected to add another $380 billion in costs.


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