Government Regs Cost American Businesses $1.8 Trillion A Year

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Happy Holidays from the Obama administration.

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For America’s businesses, the Obama administration has an unpleasant holiday surprise.

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A new report on the government’s regulatory actions was released just before Thanksgiving, and it contains more than 3,300 rules — which the Competitive Enterprise Institute (CEI) estimates will, together with other regulations, cost more than $1.8 trillion to implement on an annual basis.

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At a time when the economy is still struggling to zoom out of its post-recession rut, businesses worry that the crush of regulation is another sandbag weighing down the recovery.

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“Back in the ’90s, the federal budget itself was not even $1.8 trillion,” said Wayne Crews, vice president of policy for CEI. “Now we have this entire $1.8 trillion hidden tax, you could say, of government compliance and intervention cost imposed in the economy.” (Read More)

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As Obama’s crew unleashes all of these job killing regulations on the economy he blabbers about income inequality.

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