Unregulated?

By April 9, 2009Regulations

From Time Magazine, a report on President Obama’s travels through Europe by Michael Elliot, “The Moment.”

[When] you’re President of a nation whose unregulated, red-in-tooth-and-claw capitalism is widely blamed for an economic crisis that is making life miserable for millions, star wattage will get you only so far.

Unreal. Surreal. Meta-real. Really dumb.

From Veronique de Rugy, Reason Magazine, “Bush’s Regulatory Kiss-Off,” January 2009:

Since Bush took office in 2001, there has been a 13 percent decrease in the annual number of new rules. But the new regulations’ cost to the economy will be much higher than it was before 2001. Of the new rules, 159 are “economically significant,” meaning they will cost at least $100 million a year. That’s a 10 percent increase in the number of high-cost rules since 2006, and a 70 percent increase since 2001. And at the end of 2007, another 3,882 rules were already at different stages of implementation, 757 of them targeting small businesses.

Overall, the final outcome of this Republican regulation has been a significant increase in regulatory activity and cost since 2001. The number of pages added to the Federal Register, which lists all new regulations, reached an all-time high of 78,090 in 2007, up from 64,438 in 2001.

(Hat tip: Tim Graham)

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