Biden's Record Regulations Cost American Households Billions
Submitted by MAGA
Posted 51 days ago
**Staggering Costs of Federal Regulations Reach Record High, Burdening American Households**
In a shocking revelation, the Competitive Enterprise Institute (CEI) has reported that the cost of federal regulations has hit an all-time high of $2.1 trillion in 2023.
This staggering figure translates to a “hidden tax” of $15,788 for each American household.
With these costs accounting for nearly 8% of the U.S. GDP, it's evident that the regulatory burden is becoming unbearable for the average citizen.
The Biden administration’s aggressive regulatory agenda has been a significant factor in this increase, as they finalized an astonishing 3,018 rules last year, the second-lowest count since 1976.
Yet, the relatively low number of rules belies the extensive scope of these regulations, as indicated by the record number of pages in the Federal Register.
The report highlights a concerning trend: under the Biden administration, there has been an average of 870 new regulations annually affecting small businesses.
Comparatively, during the Trump years, the average was just 701.
Economic regulation alone accounted for a whopping $522 billion of the total cost, followed closely by environmental regulations at $422 billion.
This increase in regulatory costs not only burdens families but also stifles small businesses that create jobs and drive innovation.
The CEI report underscores that a staggering 10.34 billion hours were spent in 2022 merely completing federal paperwork, which is equivalent to the total work time of approximately 14,883 human lifetimes.
As these regulations continue to proliferate, the question remains: how much longer can American families and businesses bear this weight?
With the federal government’s relentless appetite for regulation, it's becoming clearer that a reevaluation of these policies is urgently needed to alleviate the financial strain placed on hardworking Americans.
Sources:
twitchy.com
npr.org
heartlanddailynews.com
In a shocking revelation, the Competitive Enterprise Institute (CEI) has reported that the cost of federal regulations has hit an all-time high of $2.1 trillion in 2023.
This staggering figure translates to a “hidden tax” of $15,788 for each American household.
With these costs accounting for nearly 8% of the U.S. GDP, it's evident that the regulatory burden is becoming unbearable for the average citizen.
The Biden administration’s aggressive regulatory agenda has been a significant factor in this increase, as they finalized an astonishing 3,018 rules last year, the second-lowest count since 1976.
Yet, the relatively low number of rules belies the extensive scope of these regulations, as indicated by the record number of pages in the Federal Register.
The report highlights a concerning trend: under the Biden administration, there has been an average of 870 new regulations annually affecting small businesses.
Comparatively, during the Trump years, the average was just 701.
Economic regulation alone accounted for a whopping $522 billion of the total cost, followed closely by environmental regulations at $422 billion.
This increase in regulatory costs not only burdens families but also stifles small businesses that create jobs and drive innovation.
The CEI report underscores that a staggering 10.34 billion hours were spent in 2022 merely completing federal paperwork, which is equivalent to the total work time of approximately 14,883 human lifetimes.
As these regulations continue to proliferate, the question remains: how much longer can American families and businesses bear this weight?
With the federal government’s relentless appetite for regulation, it's becoming clearer that a reevaluation of these policies is urgently needed to alleviate the financial strain placed on hardworking Americans.
Sources:
twitchy.com
npr.org
heartlanddailynews.com
Latest News