Doesn’t it seem like everything is more expensive these days? Even if you’re one of the lucky ones that hasn’t lost a job or taken a pay cut in the Obama economy, it probably seems like you have. Well, according to a new study you aren’t imagining things, President Obama’s regulations have cost the typical consumer a whopping $11,000.
The study by conservative think tank American Action Forum found the administration has imposed at least 36 regulations since 2009 that clearly resulted in higher costs — reflected in everything from mortgages to cars to food to household goods.
The National Highway Traffic Safety Administration, for example, said the price of 2011 cars and light-trucks would cost $91 more as a result of new fuel-efficiency standards, according to the study.
The study also found the new regulations would result in annual increases of $362 for mortgages, $135 for energy and $108 for health care for a “typical” consumer.
The study identified as many as 50 “economically-significant” regulations but also found federal agencies clearly stated in only 36 of them that consumer costs would rise.
“Increasing the cost of a mortgage is the most glaring area where agencies provided only qualitative analysis or simply omitted any extensive discussion of how regulation could increase costs,” the study authors wrote. (Read More)
I wish our health care costs only went up by $108. Our premiums have skyrocketed and so have our deductibles. Maybe that’s a weekly number they’re going by, or maybe since we pay for our own health insurance we aren’t typical. Regardless, as the costs for everything rise, Americans have less disposable income to spend on things like vacations, clothing, and entertainment, so expect the economy to remain sluggish or get even worse.