It’s not just spending — Biden’s record regulations are driving inflation too
May 25, 2022 08:55:35 #
By Jonathan Ingram
Joe Biden
President Joe Biden added more than 72,000 pages of regulations, executive orders and agency notices.
The highest inflation in 40 years isn’t driven just by record federal spending, a record government-driven labor shortage and record restrictions on US energy production. President Joe Biden’s record regulation spree is also pushing prices higher. Stopping the bureaucratic assault on the economy is essential to taming inflation and giving families relief.
The role of regulations in the inflation crisis is largely overlooked but shouldn’t be. When Washington wraps the economy in red tape, businesses must spend massive sums on compliance.
That cash doesn’t materialize from thin air. Every dollar that goes toward hiring lawyers, filling out paperwork and redesigning products and assembly lines gets passed to consumers through higher prices. Mercatus Center research finds that a 15% increase in federal regulation hikes the cost of consumer goods by a full percentage point.
This puts the president’s regulation obsession in perspective. In its first year, Team Biden added more than 72,000 pages of regulations, executive orders and agency notices. That’s 25% more than the Trump administration added in its first year, according to my review of the Federal Register. Biden’s team also pushed through more major regulations in his first year than any president in modern US history — 69 such regulations compared with 22 under Donald Trump and 52 under Barack Obama.
Joe Biden
President Joe Biden added more than 72,000 pages of regulations, executive orders and agency notices.
The highest inflation in 40 years isn’t driven just by record federal spending, a record government-driven labor shortage and record restrictions on US energy production. President Joe Biden’s record regulation spree is also pushing prices higher. Stopping the bureaucratic assault on the economy is essential to taming inflation and giving families relief.
The role of regulations in the inflation crisis is largely overlooked but shouldn’t be. When Washington wraps the economy in red tape, businesses must spend massive sums on compliance.
That cash doesn’t materialize from thin air. Every dollar that goes toward hiring lawyers, filling out paperwork and redesigning products and assembly lines gets passed to consumers through higher prices. Mercatus Center research finds that a 15% increase in federal regulation hikes the cost of consumer goods by a full percentage point.
This puts the president’s regulation obsession in perspective. In its first year, Team Biden added more than 72,000 pages of regulations, executive orders and agency notices. That’s 25% more than the Trump administration added in its first year, according to my review of the Federal Register. Biden’s team also pushed through more major regulations in his first year than any president in modern US history — 69 such regulations compared with 22 under Donald Trump and 52 under Barack Obama.
May 25, 2022 09:25:03 #
American Vet wrote:
By Jonathan Ingram br br br Joe Biden br Preside... (show quote)
Not having regulations in place is one of the roots of our problems.
Unregulated Capitalism is responsible for this bucket o chit we loving still call the greatest country in the world . It is , but each day it’s greatest for less and less people.
When 4 people Own 87% of the wealth in this country, something needs to change , if regulations can put the brakes this out of control Hellbound train then , let’s do it.
And do you know what propaganda is ?
May 25, 2022 09:29:03 #
American Vet wrote:
Donald trump is responsible for deleting tons of regulations, for no other reason than corporate greed.By Jonathan Ingram br br br Joe Biden br Preside... (show quote)
He allowed polluters to dump toxic chit in your front yard , all without a whimper from youz. We do need regulations .
Why are you fighting the fight that corporations should be fighting ????
May 25, 2022 09:33:08 #
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