More and more it seems that the purpose of government is to waste as much money as possible in as short a time as possible.
They seem to be doing a good job of this because waste is increasing, unemployment is increasing, use of food stamps is increasing, the speed of executive order is increasing.
Surely all of that must be good?
The former Office of Information and Regulatory Affairs (OIRA) recently said an executive order issued by President Barack Obama that was designed to “cut red tape” has added $10.2 billion in regulatory costs to the economy, according to a new report.
Tuesday was the third anniversary of Executive Order 13563, prompting the American Action Forum to examine the effects of the order. It was intended to reduce “redundant, inconsistent, or overlapping” regulations.
How does something that reduces redundant, inconsistent, or overlapping regulations end up adding a massive burden on companies and the economy? No wonder the economy isn’t improving and the real unemployment rate isn’t improving.
Sam Bratkins, director of regulatory policy at American Action Forum, says the action was hardly unique and has had the opposite effect of its intended purpose.
As Bratkins put it, “Has Washington actually cut red tape? On net, final rules from Order 13563 have added more than $10.2 billion in costs, mostly from new regulations labeled as ‘retrospective,'” Batkins said. “Final rules have cut 7.9 million hours of paperwork, but Dodd-Frank and the Affordable Care Act have easily outpaced those deregulatory gains.”
What are the consequences to companies and taxpayers?
The “deregulatory measures” resulting from the executive order actually add over $10 billion in costs to the economy. For example, a final rule imposing energy standards for transformers carries a $5.22 billion cost to comply and 58,320 hours of paperwork.
Good job, Mr. President!
Taken with the proposed regulations under the executive order, the total burden to the economy would reach $13.7 billion.
Wasn’t it President Obama who promised that the order would reduce paperwork in a January 2011 Wall Street Journal editorial?
“By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to improve regulation and regulatory review, it is hereby ordered as follows … “
I wonder which of the mainstream media will do a followup on this first – or at all? I wonder if anyone will seek to stop this waste?