The federal government has imposed a new major regulation every three days since President Barack Obama took office, as the administration has shattered the record for implementing regulations costing the economy $100 million or more.
The Obama administration has now issued 600 major regulations, the center-right policy institute the American Action Forum noted in a recent report.
“One year ago, the American Action Forum (AAF) celebrated a regulatory milestone, of sorts: 500 major regulations,” wrote Sam Batkins, director of regulatory policy. “A major regulation has an economic impact of $100 million or more and can significantly affect prices for consumers.”
Obama has exceeded the 426 regulations introduced under eight years of George W. Bush despite serving less time in office so far.
“In more than six years in office, President Obama had imposed more regulations than President Bush did in eight years,” Batkins said. “Now, the administration has once again reached another record-breaking figure: 600 major regulations in roughly 7.5 years, which is 20 percent more than the previous president did in eight years.”
The American Action Forum said President Obama’s work expanding regulation in the U.S. economy is not finished, as new rules are still being finalized. The administration is set to impose new greenhouse gas standards for heavy-duty trucks at a price tag of $31 billion, and efficiency standards for manufactured housing that will cost $4.1 billion.
Obama is on pace to issue 641 major regulations through the remainder of his term.
Over-regulation hurts the economy and keeps businesses from creating more jobs. But the real danger lies in the takeover of the decision-making process. Regulations keep the American people from making their own decisions and expand the power of non-elected bureaucrats in Washington, D.C. Only a Convention of States can shrink the regulatory burden and put the people back in control. Click here to learn more.