In
his 2012 State of the Union speech, Obama claimed that "I've approved
fewer regulations in the first three years of my presidency than my
Republican predecessor did in his."
Now what impression does a claim like that make? It conveys the impression that Obama, at the very least, is wary of increasing regulations. It conveys the impression that he realizes that regulations, however well intentioned, come at a cost. It conveys the impression that he is, directly or indirectly, aware of various studies to the effect that the regulatory cost per employee for small businesses is ~ $10,585, compared to $7,454 for medium firms and $7,755 for large firms. It conveys the impression that he is aware that it has been estimated that regulations drain 1.75 trillion out of the U.S. economy yearly. In other words it conveys the impression that he understands that well intentioned regulations, which often come spewing out government agencies after the latest crisis from oil spills to banking disasters, come at a cost and that he is no regulator-in-chief. That is the impression that the claim is meant to make.
The reverse is the case.
The Obama team has launched the greatest regulatory barrage in history. It just hasn't taken effect -- yet. I won't even take up the red ink and red tape involved in Obamacare. Just take one other example: the Dodd-Frank Wall Street Reform and Consumer Protection Act (called by IBD the Dodd-Frankenstein Bill).
Now what impression does a claim like that make? It conveys the impression that Obama, at the very least, is wary of increasing regulations. It conveys the impression that he realizes that regulations, however well intentioned, come at a cost. It conveys the impression that he is, directly or indirectly, aware of various studies to the effect that the regulatory cost per employee for small businesses is ~ $10,585, compared to $7,454 for medium firms and $7,755 for large firms. It conveys the impression that he is aware that it has been estimated that regulations drain 1.75 trillion out of the U.S. economy yearly. In other words it conveys the impression that he understands that well intentioned regulations, which often come spewing out government agencies after the latest crisis from oil spills to banking disasters, come at a cost and that he is no regulator-in-chief. That is the impression that the claim is meant to make.
The reverse is the case.
The Obama team has launched the greatest regulatory barrage in history. It just hasn't taken effect -- yet. I won't even take up the red ink and red tape involved in Obamacare. Just take one other example: the Dodd-Frank Wall Street Reform and Consumer Protection Act (called by IBD the Dodd-Frankenstein Bill).
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