No matter how much cooperatively-sounding hot air the administration, and especially the incumbent himself continually spews, the truth remains that he heads the most overbearing, freedom strangling regulatory cadre that’s ever existed.
Fox News.com, posted a further proof of that economy-shrinking posture on their website today, as follows: “President Obama, in each of his last three State of the Union addresses, spoke urgently of the need to cut through the "red tape" in Washington.
But regulatory costs for the American public and business community, it turns out, soared during his first term. A new report by the conservative Heritage Foundation estimates that annual regulatory costs increased during Obama's first four years by nearly $70 billion -- with more regulations in store for term two.
"While historical records are incomplete, that magnitude of regulation is likely unmatched by any administration in the nation's history," the report said.”
What’s more, as the report goes on, the huge, economy-crippling costs and inane regulations aren’t the whole story because: “The analysis by Heritage did not count every single regulation issued in Obama's first term, but looked at "major" regulations impacting the private sector. It came up with 131 over the past four years -- many of them environmental. In addition to the $70 billion in annual costs from those rules, the report estimated that new regulations from the first term led to roughly $12 billion in one-time "implementation costs."
So, here’s another case -as seen in the business-crippling effects of budget-breaking health care taxes and tripling costs of fuel for no valid reason- where there’s been a definitive decision to enact legislation and regulation without knowing a thing about the facts of the matter, while letting political pandering override the nation’s easily solvable financial problems.
Now, in conclusion I realize that to this administration which has run the national debt up to almost $17 trillion, $70 billion or more isn’t even a drop in the bucket. But, even though I’m not an economist or PHD in money-management, it still seems to me that just a little bit of forethought, common sense and application of even the most basic budgeting fundamentals might go a long way toward setting things right again. But for some reason, that kind of thinking never enters the picture anymore.
That’s it for today folks.
Adios
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