Are Regulatory Costs Crippling Economic Recovery?

Wayne Crews of the Competitive Enterprise Institute estimates regulatory costs to be about $1.8 trillion annually. (“Tip of the Costberg“)

This estimate is similar to one offered by the Small Business Administration but about 20 times the $88 billion in 2010 dollars that the OMB reports.

The Obama administration has imposed a raft of new regulations, including ObamaCare, that place a heavy compliance burden on private taxpayers and businesses.

Among the “usual suspects” is the baseline for annual economic regulation = $373 billion; a baseline for aggregate annual social regulations = $406 billion; regulations on the Department of Health and Human Services = $184 billion; Federal Communications Commission = $141 billion; Department of Homeland Security = $55 billion.

Added to these are costs of antitrust intervention, regulation of electricity networks & costs arising from constraints imposed on exploiting natural resources.

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About christopher

Content of "Natural Order" attempts to reflect the commitment of Universidad Francisco Marroquin to support the development of a society of free & responsible individuals. The principal commentator for this blog is Christopher Lingle.

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