Thursday, October 2, 2014

Federal Regs cost Taxpayers and Businesses $1.88 TRILLION Annually .. Not including Obama's 'Pen and Phone' Rules

Burdensome federal regulations cost American taxpayers and businesses a shocking $1.88 trillion annually — far more than the administration estimates — and that doesn’t include the impact of President Obama’s “pen and phone” rulemaking, according to a “Costberg” analysis from the libertarian Competitive Enterprise Institute.
“The Costberg is large, but in the ‘pen and phone’ era of doing things off the books, the impact of regulation becomes far more ominous given the ‘regulatory dark matter’ we can’t see that doesn’t get counted, and for which no one is accountable. Congress must address this next year,” warned the author of the report, Clyde Wayne Crews, a CEI vice president.
Complying with Energy Department rules and regulations alone had an economic punch of $10 billion, he said in the report provided to Secrets. The economic hurt is $8 billion from USDA rules. And a category called “federal worker mobility restrictions” cost $12 billion.
Crews has made a working project of his “Costberg” report which he regularly updates. In it, he compares the cost of regulations estimated by federal agencies to a much broader list of estimates from multiple federal and independent sources. And even then, he said, it doesn't include hard-to-calculate costs associated with antitrust intervention, regulation of electricity networks or the cost of constrained access to natural resources.
Read the rest of the story HERE.

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