As Congressional Republicans are constantly trying to point out, enacting all of the additional new sources of “revenue” in the world will never come even remotely close to solving our long term debt problems. The only real solution for turning our country around is inducing our economy into a rate of robust economic growth that creates more productive jobs, brings more people into the middle class, and reduces poverty and subsequently our entitlement burden — and no amount of “asking the wealthy to pay a little more” will ever accomplish that. More taxes, more regulations, and more top-down bureaucracy, i.e. everything that the Obama administration keeps touting, will only leave us redistributing out of a stagnant economic pool instead of makin’ it rain private-sector jobs and wealth creation.
Indiana’s brand-new Republican Governor Mike Pence, after being inaugurated on Monday, quickly made it his first move to enact a regulatory moratorium to help fight unemployment. Take note, Washington:
The former House Republican Conference chairman issued an executive order suspending Indiana’s rulemaking process shortly after he was sworn in Monday. The measure is designed to lower the cost of doing business and encourage hiring in the state, where the 8.2 percent unemployment rate is slightly higher than the national average.
“Over several decades the proliferation of administrative rules and regulations at all levels of government has increased the complexity and expense of economic life,” the order says. “Reducing this regulatory burden will promote citizens’ freedom to engage in individual, family and business pursuits.”
In addition to directing state agencies to halt any rulemaking activity indefinitely, the order requires the state’s budget office to evaluate existing rules and put forth recommendations for which should be repealed, beginning with the most onerous.
The compliance costs of the federal government’s all-too-often whimsical regulations take a serious toll on our economy, and more often than not, they disproportionately hurt the smaller businesses that the Obama administration claims to want to help. The threat of even more piled-on, overly-zealous, “it’s for your own good” regulations are wreaking uncertainty all over the national economy (and ObamaCare, Dodd-Frank, and the EPA have not yet begun to fight!), a concept that Gov. Pence isn’t failing to grasp.