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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Great! Just great! I hate Obama! He’s so spendy!

tommyhawk on September 20, 2012 at 2:06 PM

You mean he lied?

pat on September 20, 2012 at 2:06 PM

It’s a feature, not a bug.

ButterflyDragon on September 20, 2012 at 2:06 PM

Unexpected!!!

NapaConservative on September 20, 2012 at 2:07 PM

tommyhawk just bishoped.

Bishop, take a shower, you’ll feel cleaner.

NapaConservative on September 20, 2012 at 2:08 PM

Choom in Chief better call in Captain Hook to rob and pillage to save the day

LaRepublican on September 20, 2012 at 2:10 PM

Great! Just great! I hate Obama! He’s so spendy!

tommyhawk on September 20, 2012 at 2:06 PM

And a failure. You guys always forget the failure part.

Chuck Schick on September 20, 2012 at 2:11 PM

Great: Obama regulations cost 20x admin’s estimate, annually

What you say? Obama lied? Unpossible…

SWalker on September 20, 2012 at 2:12 PM

What you people don’t understand is that these regulations are simply investments in our children’s future. Sheesh

Rio Linda Refugee on September 20, 2012 at 2:13 PM

Somewhere, in the secret depths of the federal penalty code, there should be a 25-to-life term lurking for intentionally misinforming the public using one’s taxpayer-sponsored position with the government.

Archivarix on September 20, 2012 at 2:13 PM

We had to pass it to see what was in it.

Mason on September 20, 2012 at 2:13 PM

The immediate regulatory freeze of a Romney presidency can’t come soon enough.

From your lips and nimble fingers, Erika! Romney’s Inauguration Day ceremony can’t come soon enough.

thatsafactjack on September 20, 2012 at 2:14 PM

Obama lied & US Economy/Fiscal Future is Fried?

Somebody should alert the media

workingclass artist on September 20, 2012 at 2:14 PM

The hard part is getting the cattle on the truck. The easy part is dumping them at the slaughterhouse yard.

OhEssYouCowboys on September 20, 2012 at 2:14 PM

Coupled with the Bush tax cuts expiring, I fully expect the economy to take off like a rocket in January.

Bishop on September 20, 2012 at 2:14 PM

Everything this guy touches goes bad.
Nothing he says is right.
None of his programs work.

All of this is evident each and every day.

I just cannot find any reason to respect people who support him.

Jabberwock on September 20, 2012 at 2:14 PM

Somewhere, in the secret depths of the federal penalty code, there should be a 25-to-life term lurking for intentionally misinforming the public using one’s taxpayer-sponsored position with the government.

Archivarix on September 20, 2012 at 2:13 PM

Ummm, I’m pretty sure that secret law in the federal penalty code you are referring to specifically indemnifies public officials from any kind of prosecution for criminal malfeasance and tax evasion.

SWalker on September 20, 2012 at 2:16 PM

I just cannot find any reason to respect people who support him.

Jabberwock on September 20, 2012 at 2:14 PM

As far as I’m concerned, they are the greatest enemy that this country has ever known.

They are nothing but rot – and they are destroying the foundations of our country.

OhEssYouCowboys on September 20, 2012 at 2:17 PM

Laser like focus on job creation.

Ellis on September 20, 2012 at 2:18 PM

Mitt/team better get an ad stat on this so people will know about this! They sure won’t get this news from bhopress!
L

letget on September 20, 2012 at 2:18 PM

WHO WOODA THUNK?

timberline on September 20, 2012 at 2:21 PM

Obama promised to halve the national debt in his first four years and he essentially doubled it. None of this comes as a surprise anymore just more confused why so many people think this evil rat-eared thug should get four unfettered years to finish destroying the nation. I blame liberal women who apparently will put up with anything just so long as somebody else forks over the $9/month for their birth control.

Happy Nomad on September 20, 2012 at 2:22 PM

He didn’t raise taxes you conservative morons!
They are called penalties & fees.
trollapalooza on September 20, 2012 at apocalypse

Badger40 on September 20, 2012 at 2:24 PM

Coupled with the Bush tax cuts expiring, I fully expect the economy to take off like a rocket in January.

Bishop on September 20, 2012 at 2:14 PM

Oh yeah

Kraken on September 20, 2012 at 2:24 PM

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?

Barack Obama and his Cultists reject economic liberty.

Why do they hate lower and middle-income families?

visions on September 20, 2012 at 2:25 PM

Obama promised to halve the national debt in his first four years and he essentially doubled it.

Happy Nomad on September 20, 2012 at 2:22 PM

Don’t you understand? He hasn’t had enough time.
And it’s all the Republicans’ fault.
trollapalooza on September 20, 2012 at apocalypse

Badger40 on September 20, 2012 at 2:26 PM

Badger40 on September 20, 2012 at 2:24 PM

Hey B-40, how has the beef market performed for you kids this year? I hope things are well.

Rio Linda Refugee on September 20, 2012 at 2:26 PM

Putting people to work….keeping track of people who work…now someone has to keep track of them…so we need regulations to regulate the regulators. The perpetual work machine.

right2bright on September 20, 2012 at 2:26 PM

Bishop on September 20, 2012 at 2:14 PM

Check your line, you may be getting a bite.

Rio Linda Refugee on September 20, 2012 at 2:27 PM

Obama promised to halve the national debt in his first four years and he essentially doubled it.

Happy Nomad on September 20, 2012 at 2:22 PM

Than he did what he promised…divide 4 trillion by 1/2 and you get 8 trillion…see?

right2bright on September 20, 2012 at 2:28 PM

The perpetual work machine.

right2bright on September 20, 2012 at 2:26 PM

Paid for by the perpetually working.

Rio Linda Refugee on September 20, 2012 at 2:28 PM

Instead of running away from his money, Romney needs to start using it.

For example, by the end of the year, more than 100 coal plants are scheduled to go offline. Romney needs to look into the camera and say:

“All of you know that I am wealthy. My opponent has made sure that everyone knows it and I’m proud of my success and want you to be able to achieve it, too. Here’s the thing, though, I can afford to pay “electricity costs that will necessarily skyrocket,” as Obama’s policies will do and, indeed, he has said that he intends them to, but most of you can’t. And, there is no reason that you ever should.”

And, as for coal:

Thanks to President Obama, the UAW is alive and the UMW is dead.

Resist We Much on September 20, 2012 at 2:29 PM

Cass Sunstein…he’s gone but his legacy continues along with the marching orders.

CoffeeLover on September 20, 2012 at 2:29 PM

Rio Linda Refugee on September 20, 2012 at 2:26 PM

Markets indicate higher calf prices than last year.
We sell in the fall up here. The fall run is just beginning.
I expect heavier calves will do better than lighter ones bcs of the feed prices.
Only bad thing is that our calves will be somewhat lighter this year bcs we turned our bulls out later.
But they’re heavier than any neighbors’ calves.
Plus we always usually sell at the top of the sale.
And you know, this economy has done one thing for us who are in huge debt. The low interest rates have really eaten away at it.
So I guess I can’t complain too much.
Thanks for asking.
Hope yall are doing well.

Badger40 on September 20, 2012 at 2:29 PM

so we need regulations to regulate the regulators. The perpetual work machine.

right2bright on September 20, 2012 at 2:26 PM

JOB CREATION!

Badger40 on September 20, 2012 at 2:31 PM

Despite President Obama’s assiduous promises that he would scrupulously avoid raising taxes whatsoever on the middle class

He also said that if I liked my health plan I could keep my health plan and that turned out to be a lie too. He stated that the unemployment rate would never ever get over 8% if we let him spend all that money on his cronies in the UAW and Solyndra among other places. He said that he would work in a post-partisan way and then referred to the GOP as his (and Latino’s) enemies.

In short, what promises has this rat-eared bastard actually kept?

Happy Nomad on September 20, 2012 at 2:32 PM

Incompetency has indeed reached the highest level. Where else can someone get away with underestimating anything by 2000%?

supernal on September 20, 2012 at 2:33 PM

Just saw space shuttle Endeavor being ferried to its museum spot. Flew right past my place.

Thanks Obama for killing the manned space program. Your “Forward” slogan is an Orwellian bastardization of the word.

AZfederalist on September 20, 2012 at 2:33 PM

Nonsense, everyone knows that regulations that delay or prevent productive work from being done actually stimulate the economy by giving jobs to the regulators.

Without those work-blocking regulations, those regulator jobs wouldn’t exist. It’s incontrovertible!

forest on September 20, 2012 at 2:35 PM

Thanks for asking.
Hope yall are doing well.

Badger40 on September 20, 2012 at 2:29 PM

Prayers your way Cowgirl

Rio Linda Refugee on September 20, 2012 at 2:35 PM

The Republic can not survive under the current fiscal circumstances. These have been put in place by both political parties.
Each and every political entity is corrupt…they steal our wealth and smile while doing it.
They are preparing for the comming collapse…The Feds (not military) have purchased 1.4 billion, thats BILLION, bullets this year.
What for?
It would take a real rebellion, like the TEA party movement, but much larger, to change course quickly enough to save the Founders vision.

dirtengineer on September 20, 2012 at 2:36 PM

Thanks Obama for killing the manned space program. Your “Forward” slogan is an Orwellian bastardization of the word.

AZfederalist on September 20, 2012 at 2:33 PM

I wish I would have said that

congma on September 20, 2012 at 2:36 PM

Markets indicate higher calf prices than last year.
We sell in the fall up here. The fall run is just beginning.
I expect heavier calves will do better than lighter ones bcs of the feed prices.
Only bad thing is that our calves will be somewhat lighter this year bcs we turned our bulls out later.
But they’re heavier than any neighbors’ calves.
Plus we always usually sell at the top of the sale.
And you know, this economy has done one thing for us who are in huge debt. The low interest rates have really eaten away at it.
So I guess I can’t complain too much.
Thanks for asking.
Hope yall are doing well.

Badger40 on September 20, 2012 at 2:29 PM

You should send your kids to the WH.
From the sounds of it, in half an hour they could double the President’s economic knowledge.

Jabberwock on September 20, 2012 at 2:36 PM

This is no suprise…

… This is Obowma’s policies enacted, all by thought, purpose, intent, and design.

“FOUR MIRE YEARS!”
“FOUR MIRE YEARS!”
“FOUR MIRE YEARS!”

Seven Percent Solution on September 20, 2012 at 2:37 PM

What for?
It would take a real rebellion, like the TEA party movement, but much larger, to change course quickly enough to save the Founders vision.

dirtengineer on September 20, 2012 at 2:36 PM

Yes, dear, go grab your pitchfork…

jimver on September 20, 2012 at 2:43 PM

5 minutes Googling this think tank that came up with these figures tells you everything you need to know about them. Funny how no credible non-partisan groups ever support your figures, right guys?

Typhonsentra on September 20, 2012 at 2:43 PM

You should send your kids to the WH.
From the sounds of it, in half an hour they could double the President’s economic knowledge.

Jabberwock on September 20, 2012 at 2:36 PM

I wouldn’t risk it, they could also end up in a William Ayers approved Reeducation camp…

SWalker on September 20, 2012 at 2:43 PM

Coupled with the Bush tax cuts expiring, I fully expect the economy to take off like a rocket in January.

Bishop on September 20, 2012 at 2:14 PM

Yeah, except that generally one does not aim the rocket downward when desiring a successful launch. ;-)

AZfederalist on September 20, 2012 at 2:45 PM

Nonsense, everyone knows that regulations that delay or prevent productive work from being done actually stimulate the economy by giving jobs to the regulators.

Without those work-blocking regulations, those regulator jobs wouldn’t exist. It’s incontrovertible!

forest on September 20, 2012 at 2:35 PM

You’ve just described the Dept of Education perfectly. A federal department that has no function other than to track where the money went.

Happy Nomad on September 20, 2012 at 2:46 PM

Cass Sunstein…he’s gone but his legacy continues along with the marching orders.

CoffeeLover on September 20, 2012 at 2:29 PM

.
along that that thoguht,
Has there been a super pac ad that reviews the Community Organizer in Chiefs awesome management skills in assembling his Administration.

A cameo with Van Jones perhaps, the WH vacation for Daley and all of the rest of the clowns from this hiring process?

A President is a manager as well.

FlaMurph on September 20, 2012 at 2:48 PM

Yeah, except that generally one does not aim the rocket downward when desiring a successful launch. ;-)

AZfederalist on September 20, 2012 at 2:45 PM

Well,actually that depends on what the definition of “IS” is and what the intended goal of launch the rocket IS

SWalker on September 20, 2012 at 2:49 PM

Funny how no credible non-partisan groups ever support your figures, right guys?

Typhonsentra on September 20, 2012 at 2:43 PM

Y’mean like Media Matters?

a capella on September 20, 2012 at 2:50 PM

The immediate regulatory freeze of a Romney presidency can’t come soon enough.

You are assuming a lot.

rickv404 on September 20, 2012 at 2:54 PM

The Feds (not military) have purchased 1.4 billion, thats BILLION, bullets this year.
What for?

dirtengineer on September 20, 2012 at 2:36 PM

Gun Digest had a short editorial on the current meme circulating about the IRS purchasing some large amount of hollow-points. Turns out, when you take the number of full-time armed agents (a relatively small number, something like 269 who are charged with serving high-risk cases), this comes to something like 60 rounds per agent per month. Not even enough to remain really proficient with one’s firearm. The editor of the magazine (a staunch gun rights advocate and conservative) observed that people should not be taking these stories circulating on the internet as some Chicken Little apocalyptic prediction of doom and destruction. Taking the number you have cited, 1.4 Billion per year, comes out to 116 million rounds per month. Given the number of armed federal agents in ICE, FBI, DHS, and others that require training rounds as well as practice rounds, this is not as dire as it sounds.

AZfederalist on September 20, 2012 at 2:55 PM

this is not as dire as it sounds.

AZfederalist on September 20, 2012 at 2:55 PM

Tep and I’d be willing to bet that more rounds have been purchased and re-loaded in the same time span.

Rio Linda Refugee on September 20, 2012 at 3:00 PM

Only the strung out fools bought the rhetoric and hopium Obama was pushing out there.

Anyone with a few brain cells saw what the real cost was going to be and the ones who needed the help the most will suffer. You now have ACCESS to healthcare but no job GOOD LUCK!

TroubledMonkey on September 20, 2012 at 3:03 PM

BLERGH!!

stvdog on September 20, 2012 at 3:03 PM

Coupled with the Bush tax cuts expiring, I fully expect the economy to take off like a rocket in January.

Bishop on September 20, 2012 at 2:14 PM

Darn right. Once we stick it to the rich, and put the clamp down on them (and, well, the middle class, too) that will make room for everyone else to enjoy some of that economic success.

BlueCollarAstronaut on September 20, 2012 at 3:07 PM

This is just Cloward Piven for a few years out just in case he can’t finish the job personally.

tim c on September 20, 2012 at 3:16 PM

Destroying liberty, freedom and our economy one regulation at a time.
– A century of PROGRESS brought to you by PROGRESSIVISM

ajacksonian on September 20, 2012 at 3:18 PM

…it’s just MATH…doesn’t know what the debt level is either…exatly!…WTF?…they’re just numbers!

KOOLAID2 on September 20, 2012 at 3:19 PM

It’s all our fault. We’re just not working hard enough, not paying enough taxes, not buying enough insurance or using too much of what we did buy, not spending enough, not saving enough, not hiring enough, we’re retiring too early, we’re having too many kids. We’re letting our Light Bringer down, obviously he needs to fire us all and get a new country that meets his standards.

If you’re a Democrat, wealth is a zero-sum game. But hours of our lives? There’s always more people you can tax, they weren’t doing anything important with their lives anyway. At least, nothing anywhere near as important as what liberals want done.

Socratease on September 20, 2012 at 3:23 PM

Funny how no credible non-partisan groups ever support your figures, right guys?

Typhonsentra on September 20, 2012 at 2:43 PM

Messenger attacked….what else ya got?

weaselyone on September 20, 2012 at 3:28 PM

In short, what promises has this rat-eared bastard actually kept?

Happy Nomad on September 20, 2012 at 2:32 PM

He promised he’d cripple the coal industry, and make energy prices skyrocket.

That’s one promise he kept.

AZCoyote on September 20, 2012 at 3:38 PM

And the “Smartest Man in the World” doesn’t comprehend why businesses are sitting on the sidelines with money in their pockets. Could it be because they don’t know yet what their actual future business costs will be?

GarandFan on September 20, 2012 at 3:39 PM

Right, but they are saving us mega-gazillions because now none of us are going to get sick and die.

That, seriously, is the argument the EPA and HHS have made about virtually all the regulations repressing useful energy production. Sure, it’s costly, but we’ll save in the end because the fish won’t have mercury in them and pregnant women won’t give birth to mutants.

(Look it all up. It’s there. That’s their argument for shutting down the coal industry.)

J.E. Dyer on September 20, 2012 at 4:16 PM

The power or tens….or in this case twenties.

oldroy on September 20, 2012 at 4:52 PM

The Power OF tens….damn my fat bacon stained fingers…

oldroy on September 20, 2012 at 4:53 PM

Quick question. Some 1.6 trillion dollars are already spent complying w/ regulations… and here it says 1.8 trillion is the basis for the ’20xs the administration estimates’ line. Are we supposed to add those together for a 3.4 trillion total? If so, then my god. But these #s don’t seem right to me at first.

Also, I learned from john stossel that software for complying w/ regs is the fastest growing venture capital industry

blockchords on September 20, 2012 at 4:55 PM

There were people who saw this coming and warned us but too many didn’t listen and voted for this loser. On the other hand, this is exactly what Obigspender intended. He wants this country broke and crippled, especially when he jets off to Hawaii to live in the humongous overpriced mansion on the beach in Oahu, paid for, of course, by all his rich libturd friends for whom he has done and will do favors before his sorry a$$ gets evicted from the WretchedHive in January.

stukinIL4now on September 20, 2012 at 5:28 PM

So all those people who will vote Obama back for a second term will soon learn how duped they were by this guy. Thing is, it’ll be too little to late. I just hope I don’t have to say “I told you so” or “Well… you voted for him” to all my liberal friends.

fistbump on September 20, 2012 at 6:09 PM

math is hard.

Tim_CA on September 20, 2012 at 6:20 PM

Either the American people wise up and elect Romney, or they deserve what they get.

ardenenoch on September 20, 2012 at 7:25 PM

Blergh.

.
Was that a gastrointestinal event?

ExpressoBold on September 20, 2012 at 7:39 PM

5 minutes Googling this think tank that came up with these figures tells you everything you need to know about them. Funny how no credible non-partisan groups ever support your figures, right guys?

Typhonsentra on September 20, 2012 at 2:43 PM

Took 30 seconds; looks OK to me.

About CEI

The Competitive Enterprise Institute is a non-profit public policy organization dedicated to advancing the principles of limited government, free enterprise, and individual liberty. Our mission is to promote both freedom and fairness by making good policy good politics. We make the uncompromising case for economic freedom because we believe it is essential for entrepreneurship, innovation, and prosperity to flourish.

Founded in 1984, CEI has grown into an effective advocate for freedom on a wide range of critical policy issues, including energy, environment, business and finance, technology, telecommunications, and food and drug regulation.

What others say about CEI:

Fortune: “While many on the right are lying low while the free market implodes, the Competitive Enterprise Institute isn’t backing down, fighting on fronts from the bailout to green energy.”
The Business Insider: CEI’s “Myron Ebell may be enemy #1 to the current climate change community.”
Steve Forbes: “Over its 25-year history, CEI has played a critical role in preventing the worst of the left’s utopian nightmares from becoming reality, and in undoing some of the damage those policies have created.”
Ron Paul: “CEI is a true asset to the freedom movement, on issues form global warming to financial regulation, I can always count on CEI to effectively make a principled case for liberty”
William Armstrong, President of Colorado Christian University and former Senator (R-CO) on Ten Thousand Commandments: “This is an excellent piece of work and an invaluable reference.”
Al Gore on CEI (lamenting):”… over 20 years, I have seen them have a tremendous effect.”

AesopFan on September 20, 2012 at 8:15 PM