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Regulatory Burdens

Recorded on August 25, 2011

From the Heritage Foundation, I'm Ernest Istook.

A recent White House announcement shows that what government gives with one hand, it takes away with the other. The President bragged that he's getting rid of unnecessary regulations that cost us $2-billion a year.

Every bit helps, but simultaneously they're adding 75 new major regulations last year and this year, which are an annual $40-billion drag on the economy.

So for every dollar the White House reduced regulations, it added $20 of new red tape. We get $2-billion in relief, but $40-billion in new costs, which make it tougher for business to create more jobs.

But it gets even worse. Almost 3-thousand more rules and regulations are in the pipeline—especially from Obamacare--that will add billions more of job-killing red tape.

I guess this is what they call a balanced approach—everytime they do something right, they compensate by doing something wrong.

From the Heritage Foundation, I'm Ernest Istook.