President Barack Obama promised an avalanche of regulation as his tenure in the White House draws to an end. Well, according to analysis of federal regulations, he’s certainly delivering.
A new study out from the American Action Forum reveals that the Obama administration has issued 600 major regulations, at a cost of $743 billion to American taxpayers over the past seven-and-a-half years.
In case you wondered, that’s an Obama-produced increased regulatory burden of $2,294 for every man, woman, and child in the United States.
“In the equivalent amount of time to complete 194 million additional hours of paperwork, it would take 97,429 employees working full-time (2,000 hours a year) to comply with these new federal requirements,” the study says. “That’s roughly the population of Albany, NY working full-time filling out government forms.”
By the time he leaves office in January, AAF predicts Obama’s final regulatory tally will have reached at least 814, resulting in around $815 billion in total costs to taxpayers.
“Someone must pay the cost for more than $740 billion in regulatory burdens,” the study says. “Employees could pay through reduced wages or unemployment. Shareholders could pay through lower returns. Eventually consumers could bear this burden in the form of higher prices.”
Because he’s issued a new major rule every four to five days, Senate Republicans say the president deserves a gold medal for his Olympic-level regulatory efforts.
The post Senate Republicans give Obama a gold medal… for regulation appeared first on Personal Liberty®.
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