Obama's Regulatory Tsunami

Discussion in 'Politics' started by boedicca, Sep 19, 2011.

  1. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    One aspect of Obamanomics that has been overshadowed by the spending and tax discussions is the vast increase in regulations which are suffocating the recovery.

    219 regulations costing a minimum of $100M/year each are in the queue for implementation. When the private sector is forced to absorb more than $200B of increased over ten years, jobs are Not Created.

    And Obama these are on top of the estimated $380B that Obama has already been enacted.

    The report by the House Oversight and Government Reform Committee headed by Rep. Darrell Issa, R-Calif., took aim at Obama's "regulatory tsunami" and concluded that the pace and scale of new regulations threatens the ability of the government to fulfill even its most basic regulatory functions. Here's how the congressional panel summarized its conclusions:

    "The Obama Administration has created a regulatory environment that is suffocating America's entrepreneurs' ability to create jobs and grow businesses, ... This regulatory tsunami has caused job creators to lock down at a time when we need them to expand. The committee has found that the problems created by this regulatory tsunami goes far beyond the cost of the regulations themselves, but also include breakdowns in the regulatory process itself that is having a severe impact on large and small businesses alike."

    Specifically, the panel found at least 219 "economically significant regulations in the pipeline, which if finalized, will impose costs of $100 million or more annually on the economy." That's a minimum of $219 billion in added costs to do business in this country over the next decade. Even worse, the panel found the Obama bureaucrats have already imposed 75 major new regulations that are projected to add another $380 billion in costs.

    The Issa panel concluded that, as a result of this flood of new rules, "the regulatory process is broken" and that it is "being manipulated and exploited in an effort to reward allies of the Obama administration such as environmental groups, trial lawyers and unions."


    Why the U.S. economy is headed for a double dip | Examiner Editorial | Opinion | Washington Examiner
     
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    Last edited: Sep 19, 2011
  2. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    As Heinlein noted:

    Every law that was ever written opened up a new way to graft.
     
  3. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    But... but.... its the rich peoples fault!

    Those evil Republican rich people are causing the economic problems...!
     
  4. Avorysuds
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    Avorysuds Gold Member

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    I think Obama is doomed at this point... He is just another outdated politician who still thinks he can talk his way out of his actions.

    Actions speak louder than words.

    History will not remember Obama well.
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Pass This Bill is turning into as big a joke as Whip Inflation Now.
     
  6. Avorysuds
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    Avorysuds Gold Member

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    Yeah, when Obama first did that speech I said it would backfire on him. Obama is simply to stupid to understand it's not working.

    As illegal immigration gets bigger Obama will see the low 30’s before election day. Obama will prolly never make it in politics again IMO.
     
  7. blastoff
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    blastoff Undocumented Reg. User

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    Very true. However, one person of recent history will be forever kissing Barry's rear end. Ladies and gentlemen I give you...James Earl Carter!
     
  8. Claudette
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    Claudette Gold Member

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    Yep. Couple that with the tax uncertaintly and Obamacare and is it any wonder that the private sector is sitting on billions and won't hire or expand??

    Anyone as smart as Barry thinks he is would have caught a fucking clue by now.

    Guess he ain't that smart or everything he's doing is for a purpose.
     
  9. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Obama has done pretty much all of the opposite things one would do if one really wishes to encourage economic growth.
     
  10. Raoul_Duke
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    Raoul_Duke Member

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    Corporations are sitting on two trillion dollars. But they were sitting on two trillion dollars a few years ago when bush was in office. In fact the two trillion in their bank accounts has been steadily growing since 1980. They've got more and more money to invest because they're finding less and less demand to cater to. Why is that?

    Let's assume that this regulatory tsunami is true and isn't just another GOP nutjob grandstanding. That means that there was less regulation previously. During the Bush administration there was no tax uncertainty, everybody knew taxes were going to be low or even lower! Bush cut regulation too, and due to decades of tax cutting and deregulation from reagan onwards taxes and regulation were the lowest they'd been in living memory under Bush. So how come Bush had the worst job creation of any US president and why did he see such poor economic growth compared with previous decades/presidents? Surely we should be seeing surging growth and employment due to all the good work on regulations and taxes over the past few decades?
     

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