Great: Obama regulations cost 20x admin’s estimate, annually
posted at 2:01 pm on September 20, 2012 by Erika Johnsen
This is getting old. Painfully, egregiously old.
Despite President Obama’s assiduous promises that he would scrupulously avoid raising taxes whatsoever on the middle class, the CBO released yet another of its revised reports yesterday, informing us that the ObamaCare mandate tax is going to overwhelmingly impose itself upon members of the middle class, with an average penalty to the tune of $1,200. Lovely.
And today, the Competitive Enterprise Institute via the Washington Examiner has more info concluding that current federal regulations, in addition to ObamaCare’s upcoming regulations, impose a cost on individuals and businesses that amounts to more than twenty times what the Obama administration originally anticipates, annually. (Say it with me: But, who could’ve seen this coming?)
Current federal regulations plus those coming under Obamacare will cost American taxpayers and businesses $1.8 trillion annually, more than twenty times the $88 billion the administration estimates, according to a new roundup provided to Secrets from the libertarian Competitive Enterprise Institute.
And it could grow, warned the author of the report, Clyde Wayne Crews, a CEI vice president.
Complying with Health and Human Services Department requirements alone, he revealed, costs $184 billion a year, yet regulators are still drafting the rules for the 2,400-page Obamacare law that kicks into gear in 2014.
Crews has made a working project of his “Tip of the 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.
This is another testament to the true price we pay for new regulations, and matches up with the estimates of several other sources, but the negative effects of frivolous regulation and the inefficiencies of a relentlessly expanding bureaucracy can hardly be overstated — and the degree to which President Obama has increased our regulatory structure is a scandal. Opportunity costs, my friends: Every penny, every second that an individual, an entrepreneur, or a business spends complying with unnecessary red tape — not only is that a resource gone and done with, but it’s a penny or a second not spent doing something productive. Like, oh, I don’t know; maybe growing your business? Hiring people? Investing in new ideas? All the things, in a nutshell, that make our economy grow and prosper? Really, we can stop cutting the engines of economic growth off at the knees any day now! The immediate regulatory freeze of a Romney presidency can’t come soon enough.
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As I just posted HotairLib has their whole head up their six o clock.
hamradio on May 24, 2013 at 2:43 PM
Who wrote the speech? Or are you just praising the messenger?
mixplix on May 24, 2013 at 2:57 PM
Connect the dots: journolist meeting by invitation only at the White House on, what Tuesday?, “big”speech by Obama on Thursday, lame stream media fawning over speech on Friday. Who would have seen that coming, huh?
parke on May 24, 2013 at 2:58 PM
They need the “war on terror” in order to further erode our Constitutional freedoms and to deflect criticism from the administration’s and Federal government’s ongoing corruption.
They are just trying to massage it so that they don’t offend the Muslims, international Libtards and their own sensibilities anymore than necessary.
A few Muslim terrorists here and there are quite expendable to this Administration despite their sympathies for them. These drone attacks also do much deflect any potential criticism that the Administration is weak in dealing with such matters.
Dr. ZhivBlago on May 24, 2013 at 2:59 PM
MSNBC is nothing but a left wing propaganda machine serving their master, Obama.
rplat on May 24, 2013 at 3:07 PM
I believe that he was officially nominated 10 days after he was sworn in. Wow! The WON really worked long hours that week and a half to earn that POS medal. During those ten days he ordered NO DRONE STRIKES to keep his peaceful record clean.
fred5678 on May 24, 2013 at 3:22 PM
Obama: Don’t worry about that Ben Ghazi guy. I killed Bin Laden, and Bush didn’t!
And Obummer still wants to close Gitmo? Good luck with that–not even Upchuck Schumer was willing to hold trials in New York!
Steve Z on May 24, 2013 at 3:24 PM
They just changed the definition of terrorist. They used to be jihadis from the Middle East–now they’re Minutemen in Arizona and Tea Partiers in Ohio.
Steve Z on May 24, 2013 at 3:29 PM
Erika, sometimes your writing shows signs of rivaling even the Master of Snark himself, Allahpundit. Good work!
KS Rex on May 24, 2013 at 3:45 PM
I love how crazy Al invoked the Nobel Peace Prize in praise of a speech that spoke about dropping bombs on people’s head. Maybe it was the “fewer” bombs than before that raised this to historic levels.
Do they even know or care that they are morons.
marnes on May 24, 2013 at 3:46 PM
His speech made less sense than Bluto’s Animal House Speech and was far less entertaining. Nothing less than base rallying time. Never thought I would say this, but Code Pink was the best part.
DDay on May 24, 2013 at 4:01 PM
Sperling posted this at the Examiner on May 23 about this “historic speech of Obysmal’s:
You see, we are just not working hard enough to “work with the Muslim American community” who are a “fundamental part of the American family.” Watch out, too, because Obysmal is again trying to limit the impact of the Internet.
onlineanalyst on May 24, 2013 at 4:22 PM
That Chris Hayes is a bit of a twink, isn’t he?
onlineanalyst on May 24, 2013 at 4:25 PM
Obama apparently gave two speeches yesterday and I watched the other one.
myiq2xu on May 24, 2013 at 5:03 PM
Nah. I’d detest the little pissant s.o.b. if he was white…or Asian…or any one of the myriad of made-up racial divisions.
Solaratov on May 24, 2013 at 11:00 PM
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