Tag Archives: ten thousand commandments

I Get Hate Mail

A reader sent the following email to Wayne Crews and I in response to our article that ran in today’s AOL News. My reply follows.

Your vague double-talk would likely indicate that you are republican. The final statement in your opening paragraph seems to insinuate that the current administration (democrats) will escalate the already enormous number of federal regulations. If my recollection is correct, Clinton was the last president to really chisel away at some of this, and not only balanced the budget, but facilitated a surplus. Republicans, led by the renegade Bush, put us into a war, based on COMPLETE LIES which is the true base of the current enormous deficit. (Oh, and by the way, lots of Bush affiliates made a fortune over in Iraq. Hhmm?) This along with the deregulation pushed thru by the republican-controlled congress during the Clinton administration (giving banks ridiculously dangerous new powers) led to the economic CRASH of our current RECESSION (to put it lightly) – not to mention the crazy policies of the Federal Reserve and lack of oversight by the SEC during Bush’s DESPOTIC REIGN. The bail-outs pushed by Bush as he was leaving office and the subsequent pressured NECESSITY for Obama to continue in the same vein was certainly NOT the fault of the democrats. They were forced to deal with the CRAP left behind by the republicans, or face complete collapse of our entire economy. Bush and the republicans are the crazy lying right wing bigots that have the Christian right SNOWED. They could not care less about righteousness. They simply coddle the Christian right to get their votes with issues like Anti-Abortion and Anti-Gay-Marriage. The members of the early Church (followers of Christ after His death) sold everything and everyone put all their wealth together, and each was given as was needed (sort of like SOCIALISM or even COMMUNISM). The dog-eat-dog, survival-of-the-fittest stance of the republican party, supported by the Christian right, could not be any further from the system of the original followers of Christ, His Church.

I sent him this reply:

[Name redacted] – Thanks for writing. I am actually an independent. So is Wayne. I opposed the Iraq war from the beginning, am pro-gay marriage and pro-choice, I oppose the drug war and the PATRIOT Act, and I favor separation of church and state. It would be quite a stretch to call me a Republican. I share your negative opinion of Bush, and am proud that I never voted for him.

One point of correction, though: Bush and his fellow Republicans didn’t deregulate a thing. In fact, more than 30,000 new regulations hit the books on his watch! You can check the data for yourself in Wayne’s new study at http://www.cei.org/10kc/.

With 157,000 pages of regulations on the books from 59 different federal departments, it is quite difficult to even find a free market to blame for our troubles. That’s why there’s a growing consensus in the economic literature that decades of federal interventions into the housing market was a major cause of the recession.

All the best,

Ryan

UPDATE: My correspondent replied with a very kind mea culpa this morning (4/16). He originally wrote in a fit of anger, and now retracts calling Wayne and I Republicans. Seems like a nice guy, actually.

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Ten Thousand Commandments

Last year Americans paid $989 billion in income taxes (Happy Tax Day!). What you probably don’t know is that federal regulations cost as much as the income tax plus another quarter-trillion — $1.24 trillion in all.

Wayne Crews catalogues the damage in the freshly-released 2010 edition of “Ten Thousand Commandments.” Well worth a read.

If you don’t have time to read the full study, Wayne and I summarize the main findings over at AOL News.

A few numbers you should be aware of: 3,503 new regulations passed last year. Hardly any were repealed. More than 95 percent of the cost is off-budget, since the private sector pays for regulatory compliance costs. That means the burden of government is about a third higher than what it spends — in all, about 30 percent of the economy goes to paying for the federal government

Did Deregulation Cause the Great Recession?

Over at RealClearMarkets, I explain why the answer is a resounding no:

Rep. Phil Hare argues that “reckless deregulation” is one of the causes of the current economic crisis. That isn’t actually true. This year’s edition of the Competitive Enterprise Institute’s Ten Thousand Commandments report found that 3,830 new regulations came into effect in 2008 alone.

Over 30,000 total new rules passed during the Bush years. Hardly any were repealed. Businesses currently dole out the equivalent of Canada’s entire 2006 GDP – about $1.2 trillion – just to comply with federal regulations.

Where is the deregulation?

263,989 people make their living working for federal regulatory agencies, according to research from the Mercatus Center. That’s an all-time high.

12,190 of them regulate financial markets from Washington. More are based in New York and other financial centers. None of these figures include state and local rules and regulators. Those cost extra.