Regulatory Tsunami Impeding Economic Growth

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One of the greatest myths in American politics is that one person can create jobs. Sure, when the economy is strong, the person whose watch it is gets the credit. When the economy is struggling, they get the blame. But let’s be clear and honest, it’s not President Barack Obama who creates jobs. It’s not Harry Reid, the Democratic leader of the Senate. It’s not John Boehner, the Republican leader of the House.

Job creation stems from the innovators and entrepreneurs in our country. And while individual political figures can’t create jobs, the government they direct and the policies they advance can severely impede job creation in America. That’s what’s happening right now.

Recently, the House Committee on Oversight and Government Reform released a report examining the devastating impact that federal regulations are having on our economy’s ability to maintain a steady pace of job creation.

I have spent the better part of my adult life working in private enterprise and I have seen firsthand how the complex, technical and bureaucratic nature of the regulatory process can limit our ability to be innovative and grow.

The bottom line is government isn’t the answer to our nation’s unemployment crisis, but it is the problem and it’s time to get government out of the way of our nation’s job creators.

The report we recently released found that the Obama administration has created a regulatory environment that is suffocating the private sector’s ability to create jobs and grow businesses.

In total, the administration has imposed 75 new major regulations costing more than $380 billion over 10 years.

Right now, there are a number of economically significant regulations in the pipeline, which, if finalized, could result in significant costs on the economy, in some cases, a single regulation will impose a cost of at least $100 million annually on the economy.

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The EPA has not asked for 230,000 employees and $21 billion to implement its greenhouse gas rules, it has actually broken the law to avoid doing so.

“Hiring the 230,000 full-time employees necessary to produce the 1.4 billion work hours required to address the actual increase in permitting functions would result in an increase in Title V administration costs of $21 billion per year,” the EPA wrote in the court brief.

When EPA decided that it would regulate greenhouse gases under the Clean Air Act, it then obligated itself to write permits for all sources that emit 100 tons or more annually.
That would require 6.1 million permits at a cost of $21 Billion/year for the new 230,000 employees!

So, that’s not feasible.
Even Obama realizes that.
What to do?

Ignore LAW……

The EPA unilaterally decided to raise the Clean Air Act threshold from 100 tons to 75,000 tons, thereby dramatically reducing the number of permits needed to be written (down to about 500 or so).

But as only Congress can change the law — not the EPA — the agency’s so-called “tailoring rule” is illegal.

My recomendation to improve our government and cut cost is to do away with the EPA. They have done far less than zero.