It’s no secret that the Obama administration loves regulations (SEE: Report: Obama administration installs ‘new regulation every two hours and 24 minutes’), even if they cost the United States economy about $2 trillion in 2015. But a new report found that the White House didn’t even report new regulations that are worth billions of dollars.
According to a new report from Sam Batkins, the director of regulatory policy at the right-leaning American Action Forum, the Obama administration did not report more than $60 billion in regulations.
The report notes that seven regulations had 43 document requirements that did not showcase the costs of compliance. In other words, billions of dollars in regulatory costs are not reported to federal agencies, which should turn some heads, the author notes.
“These findings are sobering because AAF surveyed just the largest paperwork requirements and found more than $60 billion in omissions. But can the public trust that these rules actually cost $60 billion?” Batkins wrote. “Judging from the data, it seems regulators have no clue about the costs and benefits of federal regulation. That should give the public and regulators pause.”
With President Obama in his final months in the Oval Office, he is trying to pass through as many federal regulations as possible. Ostensibly, he thinks regulations and big government are the cures to economic growth.
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