The trillion dollar cost of excessive government regulation

With the ongoing debates in Congress over the budget and competing proposals for how to reduce the massive federal debt, it is easy to forget that the direct costs of government are only part of the picture.  In addition to the taxes necessary to sustain the President’s $3.83 trillion budget and to start paying down the national debt, American businesses must also bear the costs of compliance with an ever widening sea of regulations.

It is impossible to calculate the full magnitude of these regulatory compliance costs, but a Competitive Enterprise Institute report takes a stab at it and confirms that federal regulations alone may impose as much as another $1 trillion in annual costs on our struggling economy.  In Ten Thousand Commandments 2011, Clyde Wayne Crews, Jr., spells out the details.

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Filed Under: Economy & JobsSovereign Debt

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