Regulators are quietly killing the economy

American businesses say they’re being strangled by regulations. Yet federal regulators continue to pile on more costly new rules every day— and in many cases, they do so without regard to proper procedure.

That’s according to a new analysis out from the American Action Forum, which found that the Obama administration has a penchant for pushing through new major regulations without giving citizens and businesses a chance to protest.

In fact, under Obama’s watch 67 new major regulations were implemented through improper channels— all of which have a projected economic impact of $100 million or more. As AAF director of regulatory policy Sam Batkins noted, that means a huge chunk of the nation’s regulatory burden is governed by the whims of federal bureaucrats.

“If 67 sounds like a high number, it represents roughly 11 percent of all major rules,” he said in his report. “In other words, for one-in-ten major rules, the administration and independent agencies have denied the public the ability to comment on or review proposed major regulations.”

That 11 percent of all major rules adds up to about $7 billion in economy crushing economic impact and require some 8.3 million paperwork hours.

In 20 cases, regulators pushed through new rules without opening the required public comment period so that the Americans who would be burdened by the rules could express concerns. Of the 20 rules, 12 were categorized as “notices.” The other 47 rules did allow for public comment but were issued without a proper proposal.

Congress has in the past allowed regulators to implement rules under an expedited process— but it was only intended to happen in rare circumstances to respond to urgent national problems.

“Generally, issuing any regulation without first proposing a rule is reserved for rare circumstances,” Batkins said in the report. “After at least 67 instances, it appears this practice has grown more common.”

If you aren’t a business owner and don’t believe you are directly affected by these regulations, you couldn’t be more wrong. The juggernaut of federal bureaucracy we see today was never intended to exist under the nation’s checks and balances government. In effect, the regulatory system is ripe for abuse by money and power hungry government officials.

Right now, rules pushed through by federal bureaucrats are costing the economy at least $1.9 trillion every year, according to the Competitive Enterprise Institute. To make the number a little more personal, that amounts to an annual $14,842 hidden tax on every household in the nation.

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