Dr. Don Racheter CEO of Public Interest Institute continues the discussion on a run-a-way, overreaching, unelected wing of bureaucrats adding, not passing through the legislative branch, but adding laws, rules, regulations, statues, through registrations, permits, licensing, fees, and even fines which can lead to imprisonment. Making themselves the equal to the legislative branch when levying this heavy load on the American people, the executive branch when deciding how to endorse and often that is arbitrary with no accountability, and then, ultimately, the judicial branch as they also get to assess the punishment.
This is not small addition, over 2,224 Thanksgiving weekend, and 3,000 the Thanksgiving before as this administration has a knack for sneaking them in on holiday weekends.
Public Interest Institute publishes policy papers on state and federal issues throughout the year.
Dr. Racheter noted the expense to the average taxpayer, employers, and employees. As discussed in last weeks show with Rob Potter and Paul Reynolds, these regulations are destroying industries like coal sales and mining.
Racheter highlighted several key points of costs:
Competitive Enterprise Institute’s Ten Thousand Commandment Fact Sheet
- Economy-wide regulatory costs amount to an average of $14,976 per household—around 29 percent of an average family budget of $51,100. Although not paid directly by individuals, this “cost” of regulation exceeds the amount an average family spends on health care, food and transportation.
- The “Unconstitutionality Index” is the ratio of regulations issued by unelected agency officials compared to legislation enacted by Congress in a given year. In 2014, agencies issued 16 new regulations for every law—that’s 3,554 new regulations compared to 224 new laws.
- Federal regulation and intervention cost American consumers and businesses an estimated $1.88 trillion in 2014 in lost economic productivity and higher prices.
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I hope you get time to enjoy the book and have a blessed Christmas season.