Thursday, April 7, 2011

American Thinker: Regulatory Dysfunction

If we are to emerge from recession, America's business regulatory burden must be reassessed.

In a 2008 review of the cost of government regulations entitled Ten Thousand Commandments, Wayne Crews of the Competitive Enterprise Institute estimated that the cost of government regulations to businesses and, ultimately, to consumers was $1 trillion or more annually.  Regulations added 70,000 pages to the Federal Register.  Regulatory costs almost matched all corporate profits in 2007 and were seven times higher than the 2007 budget deficit.  Crews wrote that "Federal environmental, safety and health, and economic regulations cost hundreds of billions of dollars every year over and above the costs of official federal outlays."