A new study published today shows that since 2009, President #Obama has enacted over 600 major regulations, costing taxpayers nearly $800 billion dollars. That’s according to the conservative think-tank American Action Forum (AAF), which also shows that 2012 was a record-breaking year for the most regulations. The study doesn’t include the minor regulations, of which Obama has imposed nearly 400,000 a year via federal agencies like the EPA, FDA, and FCC.
One such regulation is the Clean Power Plan (CPP), which has forced the shuttering of coal-fired power plants across the country and sent electricity prices skyrocketing. The CPP was so burdensome, that the Supreme Court issued a stay that prevented its implementation because 29 states and industry are challenging its legality.
By his sixth year in office, President Obama had implemented more regulations than his predecessor did in eight years. And after reaching the 600 major regulations mark, that was 20 percent more than the previous president did in eight years. The AAF notes the federal government is open only 250 days a year, which means a major regulation was unveiled every three days or roughly two per week.
Yesterday, presidential candidate Donald Trump (R) outlined his economic plan for the country and, if elected, promised to roll back the Dickensian regulations and taxes that are hurting consumers and businesses. His plan has been likened to President Ronald Reagan’s fiscal blueprint for growth. Last quarter, the U.S.’s Gross Domestic Product (GDP) was 1.2 percent, the lowest it’s been since 1949 and a key indicator of a country’s financial health. Leading analysts believe the anemic economy, abysmal GDP, and stagnant wages are signs of a looming recession. Under President Reagan, the GDP was consistently as high as eight percent.
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