President Obama and all of his czars and bureaucrats were saving all of their regulatory goodies until after the election. Just wait until they all kick in.
President Obama’s hyperactive regulators went on hiatus in 2011 to get through Election Day. Now with his second term secure, they’re about to make up for lost time and then some.
The government defines “economically significant” rules as those that impose annual costs of $100 million or more, and the Bush, Clinton and Bush Administrations each ended up finalizing about 45 major rules per year. The average over Mr. Obama’s first two years was 63 but then plunged to 44 for 2011 and 2012 so far. The bureaucracies didn’t slow down. They merely postponed and built up a backlog that is about to hit the Federal Register.
We’d report the costs of the major-rule pipeline if we had current data. But the White House budget office document known as the unified agenda that reveals the regulations under development hasn’t been published since fall 2011. The delay violates multiple federal laws and executive orders that require an agenda every six months, so we thought readers might like a rough guide to the regulatory flood that is about to roll through the economy.
Read the whole thing, it goes on to list some of the worst including regulations from Obamacare, the EPA, Dodd Frank, the NLRB and others. If all of that isn’t bad enough, the fiscal cliff the associated tax increases are looming, so the rotten economy of the past four years may start to look like the good old days.
Speaking of economic predictions, read this – just make sure you’re sitting down.
(Image via Political Clown Parade)