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Excess Regulations Harm Economy and Households

The Federal government set a new record in red tape in 2013, printing 26,417 pages in the Federal register containing new 3,659 final rules and 2,594 proposed rules.  Altogether, 79,311 pages were printed in the Federal Register.  Four of the five highest page counts in the history of that bible of bureaucracy occurred during the Obama Administration.

The information was compiled by the Competitive Enterprise Institute’s  (CEI) Wayne Crews, who is preparing a study entitled “The Ten Thousand Commandments.” Crews estimates that the cost to the public of complying with Washington’s red tape is about $1.9 trillion annually, “roughly the annual GDP of Australia, Canada, or Italy.”

According to the CEI study, regulations not only make American business less competitive, they cost each US household “$14,974 annually in regulatory hidden tax, or 23% of the average income of $65,596.” A substantial part of the explosive growth in regulations during the Obama Administration has been due to the combined effects of Obamacare and the Dodd-Frank financial controls.

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According to Heritage, part of the reason for the regulatory explosion is the President’s push to control the government without the consent of Congress.  The think tank notes that in his 2014 State of the Union address, the President disturbingly pledged to take steps “whenever and wherever I can without legislation.”

Both Heritage and CEI note that hundreds of new regulations are in the pipeline.