Posted on 11/13/2022 2:56:16 PM PST by SoConPubbie
The regulations that the Biden administration issued during the first two years of Biden’s presidency have cost the economy an estimated $309 billion, 50% more expensive than the first two years of the Obama administration, and about eight times as much as the rules Trump released in all four years of his presidency.
The American Action Forum (AAF) examined the impact of Biden’s 450 new federal regulations, finding that they have also generated compliance costs of about 197 million hours in new paperwork throughout the country.
While Biden’s rules have generated massive regulatory burdens on businesses and taxpayers, the Trump administration imposed rules that reduced these burdens. In stark contrast, at the same time in his presidency, Trump’s regulations saved the economy about $3.4 million and reduced the time spent on paperwork to just 518,940 hours.
After the first two years of Obama’s presidency, his administration had imposed 647 rules. These cost the U.S. economy $205 billion and created 87 million hours of paperwork time.
AAF’s Director of Regulatory Policy Dan Bosch said, “Any time you add costs to something, particularly in an inflationary environment, costs are going to continue to increase. Some regulations have savings, but the vast majority have costs that can help contribute to inflation.”
Bosch also said that it is unlikely that the Biden administration will reduce the pace of its regulatory costs over the next two years.
“I expected the Biden administration to rival the Obama administration in terms of regulatory costs, but so far they have exceeded those expectations,” said Bosch. “The current administration’s commitment to addressing climate change through regulations, rather than new legislation from Congress, means that we should expect to see these costs continue to climb.”
According to the AAF, the Biden administration’s most economically-taxing federal regulation was an Environmental Protection Agency regulation which forced carmakers to increase their average field economy to about 40 miles per gallon. Under the Trump administration, it had been 32 miles per gallon.
This regulation, meant to get automakers to manufacture cleaner vehicles, will cost the U.S. economy an estimated $180 billion.
GOP lawmakers have criticized Biden’s regulations for harming the U.S. economy and stifling economic growth. Rep. Roger Williams, R.-Texas, explained the harm that these regulations are doing to small businesses.
“Certainty is key for small businesses, and under the Biden administration, businesses are operating in fear of the next costly new regulation that will come down the pipeline,” Williams said. “As Main Street America continues to deal with rampant inflation and the consequences of the Biden administration’s failed economic policies, we should be looking for ways to make it easier for businesses to operate and compete, not inundate them with burdensome new paperwork.”
Rep. Blaine Luetkemeyer, R.-Mo., also accused Biden of decimating business owners with his oppressive regulations.
“Rep. Blaine Luetkemeyer, R.-Mo., also accused Biden of decimating business owners with his oppressive regulations.“
Well then maybe they should have something to stop the voter fraud Machine while they had the chance.
One could only wish that we had a dragon like in house of the dragons a before an after picture would be hilarious
Dem voter: I flunked math in public school. It was racist with only one correct answer anyway.
But tell me the answer, is $309 billion more than the $3.4 million Biden saved us? I voted all Dem this week, by the way. You can thank me for saving us from MAGA extremists against democracy like Schumer said.
White House photo caption:
Jill usually guides my hand around with the pen to make my signature but they told me if I forget how then it’s legal to make an X. Believe me, colored pencils are easier and more fun. But that’s another story.
(Cheers. Applause.)
My position is this is just beginning of the economic pain coming down the road.
Eventually the economic scales will have to balance in the US as well as the globe.
Right now on 11/13/2022 they’re completely out of balance, the ratio between producers & consumers is completely off the radar, while a bunch of morons talk about stupid stuff.(like woke ideology which doesn’t do squat for production, but does add another hurdle)
This producer(I’m a manufacturer) would’t mind a slow down in demand because:
“My seven year old son would like to do some fishing, which is hard to do when you’re bombed out with orders for the next 6 months.”
“I want my God Damn life back.”
Exactly why I’m 100%FedUp
I read the other day that 100k folks in IT have lost their jobs this year. 11,000 more coming from Facebook and all then add all the snowflakes at Twitter. And the Dems and Mike Lee want more H1B visas.
Pres Trump reduced H1B visas so all those morons could keep their jobs, get better jobs and make more money. And I’m betting that 100% of them voted against him.
Can’t fix stupid.
Just wait until Shapiro decimates the energy industry in Pennsylvania as he has stated he plans on doing.
If the boogaloo is gonna kick off, it just might start there.
Congress abdicated their authority to the executive branch and this is what we get.
.
They did the same thing to unvaxxed hcare folks
Fired them
Then asked for more h1b’s because “they couldn’t find citizens to fill the jobs”
Wow. The hidden cost of liberalism
Biden, his family and Congressional members....Bleeding the country dry daily...
Once everyone gets sworn in next January, the dims will have the senate and the white house with a miniscule minority in the house. Might as well be a majority because of the rino’s that will vote with the dims.
And they will double down on all their bad ideas while their bad policies that are now in place will kick in harder.
Be prepared for a hard year next year.
“Be prepared for a hard year next year.”
Yep
👍
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