The Economic Cost Of Govt Regulation

[Mr VJP]

Regulation under the Obama administration has accelerated to alarming rates, adding an enormous drain on the US economy. Regulations imposed by the Obama administration now cost Americans more than $80 billion a year.

The findings are part of a new report by The Heritage Foundation, “Red Tape Rising: Six Years of Escalating Regulation Under Obama.” The report details 27 major regulations which were instituted in 2014, bringing the administration’s total to 184 new rules.

The Bush administration, in its sixth-year, had only instituted 76 major rules, at a cost of $30.7 billion annually. Although those numbers are themselves high, they are less than half (38.5% to be exact) of Obama’s total.

It also warrants noting that the actual cost of rules imposed under Obama may be considerably higher, due to the fact that under this administration agencies have failed to conduct extensive cost analyses.

Such failures indicate the severely dysfunctional nature of this administration and its dereliction of fiscal responsibility.

As Heritage points out, the need to reform the US’s regulatory system is dire. Regulatory costs are often ignored and layers and layers of economically hindersome rules are added year after year.

Obama’s regulatory legacy is a drain on an economy struggling to gain solid footing. Which is no surprise from the administration on pace to amass more debt than all the previous administrations combined.

Congress needs desperately to support the REINS Act, which would require congressional approval for new major regulatory rules. 

A thorough examination should be undertaken when considering new regulations.

Questions regarding constitutionality, cost, and benefit need to be seriously considered before they are implemented. Anything else is reckless.

[philoshop]

Government regulation is a very effective means of eliminating free-market capitalism. That's the Socialist goal.

 

Package it under the guise of 'safety concerns', or especially 'For the Children', and it's an easy sell to a public who can't or won't think for themselves.

[EspressoBuzz]

Funny I thought regulations were the rules of the road for free market capitalism. Too little regulation has been proven to kill us, too much hurts our wallet. Hmmmmmm

[Mr VJP]

Regulations, when applied by anti capitalist politicians, are simply road blocks on the free market highway.

 

Regulations have a cost that must be paid by the free market.  The question is, is the cost so large it kills profits, or puts the company completely out of business?

 

Regulations can also be used against any business that opposes a current administration, or social policy, as an effective form of oppression and tyranny, which is simply abuse of power.  That is the type of regulation this administration seems to have enacted the most since Obama has been in office.  Abuse of power type regulation is the most costly form of regulation on the free market.  It not only stifles current markets, but erects barriers to new business entry into those markets as well, thereby eliminating competition.

 

 

[philoshop]

Funny I thought regulations were the rules of the road for free market capitalism. Too little regulation has been proven to kill us, too much hurts our wallet. Hmmmmmm

 

You need to do a little more research on this.;-)

 

Government regulation is how non-competitive businesses are able to stay in the market. Big Pharma, Big Agriculture, Big Oil, Big Tobacco, Big Auto... They're not where they are because of their work-product, but because they've helped to configure a governmental system that eliminates the competition. It's no longer possible to be Big anything without first making Big Government happy.

 

As far as any safety concerns: Every single day people die in spite of government regulation and oversight of the things we do as humans. Looking to the government for protection is little more than an abdication of personal care.

[EspressoBuzz]

Oh I know I know. But in an ideal situation they should work for everyone. That we let it get away from that is the shame of our American short attention span and apathy toward voting. Letting the companies you're suppose to regulate write the regulations is wrong and happens every day. I too hate "nanny state" regulation but the nature man dictates strong regulations on natural resource use since it has been proven that companies that exploit those resources will do so in the cheapest and most harmful way. Many here know that the agri-laws written favor big agri-companies but again nothing gets done about it. So do we trash all regulation?

[Mr VJP]

No, we just trash regulation that has a cost too high to pay.  Like the looming EPA regulations with their "carbon tax" which will take money out of every American's pocket, destroy many jobs in various industries, with no evidence at all it will have any positive effect on the environment.

 

It seems to lend credence to the argument this administration is really trying to fundamentally change America into a third world economy.

[Mr VJP]

What do you suppose this cost "Government Motors"?  This cost will be passed on to their future customers.

 

http://patriotpost.us/opinion/35136

[wildcat junkie]

I was born & lived the first 8 years of my life in the "oil country" of N/W Pennsylvania. When the casings from oil wells drilled on the early 1900s started to rust out, methane gas would infiltrate the aquifer. That was happening by the mid '60s.

Then, there was acid run-off from coal mines turning rural trout streams into lifeless drainage ditches W/red stained bottoms.

By the mid '70s things were starting to improve due to EPA efforts. This "clean up" was mostly paid for by tax payers since the offending corporations were long gone.

Do we really have to go through all this again?

  

Ancient history has no bearing on today's industry, which operates under more stringent oversight, with far greater safety measures in place.

 

Many more people died in automobiles prior to seat belts and air bags.  Should we be removing cars from the roads too?

  

By "stringent oversight", are you referring to the government regulations that you so vehemently oppose?

Yep that "stringent oversight" sure seems like it's something you don't aprove of.

[Mr VJP]

Nope, the industry is doing fine with it's own oversight, which it knows best how to do.  If the government decides the regulations, it will inevitably turn out about as well as anything the government decides to do, a dismal failure.

 

[EspressoBuzz]

Nope, the industry is doing fine with it's own oversight, which it knows best how to do.

Did he really say this?

[Mr VJP]

Yes I did.  Do you really think the government is good at regulating anything?

[wildcat junkie]

Nope, the industry is doing fine with it's own oversight, which it knows best how to do. If the government decides the regulations, it will inevitably turn out about as well as anything the government decides to do, a dismal failure.

Did he really say this?

Yes he did. And with that statement he lost what little credibility he had left.

Even he knows that is the most ludicrous, bald faced lie ever perpetuated on the American populous. If he doesn't, he so delusional that the men in white suits should soon be putting him in a straight jacket.

I'm beginning to see why these conserve-a-turds worship Reagan so. If the old BS Artist in chief hadn't shut down the state run mental institutions, these lunatics would locked away where they wouldn't be able to spew their inane BS.

Edited May 18, 2015 by wildcat junkie

[Mr VJP]

Answer the question junkie.  What does the government regulate well?  Give me some examples.

 

Try guns for starters.  How about healthcare?  Maybe you like the EPA and it's complete over reach?

 

Posting your insults only proves you can't intelligently debate the topic, as usual.

[philoshop]

The US federal government knows so very little, about so much, it's amazing they're actually able to even get themselves into so much trouble.

 

FWIW, ad hominem arguments are, by defintiion, a sign of serious weakness. Bring your "A" game and I'll discuss this issue further. Until then....

[ncountry]

Unfortunately I would have to put big business and government in the same category. Untrustworthy.. I guess, I would have to lean towards the one that, at least in theory, should be doing our wishes.

[philoshop]

Unfortunately I would have to put big business and government in the same category. Untrustworthy.. I guess, I would have to lean towards the one that, at least in theory, should be doing our wishes.

 

Big government IS a big business. Therein lies the problem.

Our 'wishes' have nothing to do with how that business now operates. Quite the contrary, actually.

[Mr VJP]

Unfortunately I would have to put big business and government in the same category. Untrustworthy.. I guess, I would have to lean towards the one that, at least in theory, should be doing our wishes.

 

I think it's wiser to support the one that creates jobs and employs people, rather than the one that kills jobs while handing out unemployment and welfare checks.

[Mr VJP]

America is no longer a free country

 

http://reason.com/archives/2015/05/13/disobey-all-but-the-most-useful-regulati

[ncountry]

I think it's wiser to support the one that creates jobs and employs people, rather than the one that kills jobs while handing out unemployment and welfare checks.

 

Sounds great. Again in theory..

 

I also despise our welfare system. Having worked 98% of my adult life and as an employer paid piles of money into the unemployment system, I am not as down on unemployment. It was handy for the period that I needed it.

 

If we worship at the feet of big business we will be in just as bad of a situation.

[Mr VJP]

Business isn't asking for your worship, the government is.

 

[ncountry]

I think philoshop has a point  they are the same..

[Mr VJP]

I don't believe that is what he said.

 

[d-bone20917]

So you guys aren't really saying all regulation is bad are you?

[philoshop]

Government has became a big business, and it exists today without any competition.