Obama’s regulations in 2016 to drain economy by $2 trillion

posted by Jay Weber -

via The Washington Times by David Sherfinski

The Obama administration issued a record number of new regulations on its way out the door in 2016, leaving an administrative state that saps the economy of nearly $2 trillion a year, according to a new report being released Wednesday.

The government itself spent $63 billion in 2016 to administer and enforce all of its own regulations, the Competitive Enterprise Institute said.

With Republicans in Washington looking for reasons to streamline Washington and roll back President Barack Obama’s accomplishments, the new report is likely to be ammunition.

“The federal government’s reach extends far beyond its taxes, deficits, and borrowing. Federal environmental, safety and health, and economic regulations affect the economy by hundreds of billions — even trillions — of dollars annually,” Clyde Wayne Crews Jr. wrote in the CEI’s 2017 “Ten Thousand Commandments” report on federal regulations.

He counted 3,853 federal rules that were finalized in 2016 — the most for any year since 2005.

The complete story here > Obama’s regulations in 2016 to drain economy by $2 trillion


PARIS, FRANCE - DECEMBER 01:  U.S. President Barack Obama speaks during a press conference at the OECD Conference Centre before leaving the Conference On Climate Change COP21 on December 1, 2015 in Paris, France.  Obama spoke about the economic impact of global warming and security risks before flying back to Washington. (Photo by Pascal Le Segretain/Getty Images)

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