Cost of Federal Regulation Reached $1.88 Trillion in 2014-Debt Exceeds China's Economy

Free Beacon ^ | May 12, 2015 | Elizabeth Harington

[lbryce]

Original headline-Report: Cost of Federal Regulation Reached $1.88 Trillion in 2014

U.S. debt exceeds the size of China’s economy

The cost of federal regulation neared $2 trillion in 2014, according to a new report by the Competitive Enterprise Institute (CEI).

Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State, a report by Clyde Wayne Crews, CEI’s vice president for policy, also reveals that the U.S. debt now exceeds the size of China’s economy.

“Federal regulation and intervention cost American consumers and businesses an estimated $1.88 trillion in 2014 in lost economic productivity and higher prices,” amounting to roughly $15,000 per household, the report said.

The report found that the federal bureaucracy—made up of 60 agencies, departments, and commissions—has 3,415 regulations in the process of being finalized, meaning that the number of regulations far surpasses the number of laws passed by Congress.

[lbryce]

So what? We knew quite awhile ago we were overdrawn over ten times what we had, back at the end of Bush's term. When we paid the banks $700 Billion in TARP Money, that signaled the end, that the can couldn't be kicked down the road anymore as hard we we tried.

[Tzimisce]

Isn’t Obamaland great?

Now why don’t you shut your racist, bigoted face and go pay your taxes? Your hard working government is broke. :)

[NormsRevenge]

Zimbabwe , Here we come!!!!