From Karen, the Lonely Conservative:
September 19, 2012
The Democrats are really hoping Mitt Romney says something they can attack so nobody talks about the cost of the regulations enacted by President Obama.
The American Action Forum has released new analysis of the burden of new regulations under President Obama. It’s most striking finding? The cost of added regulations under President Obama is now estimated to be $488 billion.
“Based on data from the Government Accountability Office (GAO) and regulations published in the Federal Register, the Administration has published more than $488 billion in regulatory costs since January 20, 2009 – $70 billion in 2012 alone,” reads the analysis from AAF.
“Ignoring all non-“major” rules with costs in 2009, the regulatory tally still surpassed $61 billion. In 2010, counting only “major” rules, the regulatory bill rose to $160 billion in lifetime costs. AAF began tracking every proposed and final rule in 2011. That year alone the Administration published more than $231 billion in regulatory costs. AAF reviewed 6,705 regulations in 2011 and has tracked more than 4,700 regulations to date in 2012.” (Read More)
All of these regulatory costs come out of profits, which are taxed, so eliminating some of these onerous regulations should increase revenue to the Treasury. But any time a Republican talks like that they’re accused of wanting to kill people. But then they don’t have to talk about how the cost of their regulations hurts the economy. Get it?
These are supposedly “lifetime” costs of the regulations, not annual costs. However, for an Administration that is supposedly concerned about creating new jobs and spurring new business ventures, they sure are adding burdens to companies considering hiring new employees or entrepreneurs trying to figure out if it makes sense to start that new business.