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Under this President--the ONLY thing that has grown in leaps in bounds is the size of the Federal Government along with their regulations--while the private sector continues to shrink.
Whose fault is that? How did government grow under Reagan and Boy George?
As for Steve Wynn, he's just another Trump-like windbag seeking publicity.
While the private-sector is drowning under a perpetual recessionary storm, U.S. regulatory agencies are flourishing. "If the federal governments regulatory operation were a business, it would be one of the 50 biggest in the country in terms of revenues, and the third largest in terms of employees, with more people working for it than McDonalds, Ford, Disney and Boeing combined," writes John Merline of Investors.com.
Indeed, the federal regulatory business is thriving, and if there is one "victory" President Obama can declare, this is it, because government regulation has grown rapidly under his watch. From Investors.com:
Regulatory agencies have seen their combined budgets grow a healthy 16% since 2008, topping $54 billion, according to the annual "Regulator's Budget," compiled by George Washington University and Washington University in St. Louis.
That's at a time when the overall economy grew a paltry 5%.
Since Obama took office, 75 new major regulations have been enacted, costing $38 billion annually, according to a study by the Heritage Foundation. "No other president has imposed as high a number or cost in a comparable time period," wrote James Gattuso, the studys author.
greece is corrupt, the rich pay bribes instead of taxes, they went in for usa toxic assets, took advice from lehman bros. On how to hide debt...none of the socialist eu countries would be in any mess without pubs' second great depression...and wynn is no brain and i'm sick of hearing about him- nobody but ignorant pub dupes cares...
That money comes out of the economy and doesn't produce anything.
Wrong! It creates increased staff, support, and capital expenditures to meet increased regulatory requirements! Doesn't all money ultimately come out of the economy?
That money comes out of the economy and doesn't produce anything.
Wrong! It creates increased staff, support, and capital expenditures to meet increased regulatory requirements! Doesn't all money ultimately come out of the economy?
When that money is taken from the public via taxes it depresses the economic activity of those being taxed.
It's the broken window fallacy.