Today’s Washington Times briefly quotes me making that point:
“A regulatory monster is eating America’s economy. Not only do federal regulations cost Americans more than the income tax, they cost about as much as the entire GDP of Canada,” analyst Ryan Young tells Beltway. “Since regulatory costs don’t show up in the budget, more than a trillion dollars of government’s cost go largely unnoticed. The burden of government is actually about a third larger than most people think.”
For more, see Wayne Crews’ forthcoming 2010 edition of Ten Thousand Commandments.
Posted in regulation
Tagged beltway, big government, canada, federal regulations, federal rules, gdp, regulation, regulations, trillion, trillions, washington times
Supporters of the health care bill spend a lot of time attacking health insurance companies.
The health care bill, by the way, would legally require people to give a lot of money to those same insurance companies. A lot of money. It would be the largest corporate gift Washington has ever given out — as much as $1.5 trillion over ten years by one estimate.
Health insurers’ loudest detractors are actually their best friends, and they don’t even seem to realize it. Apparently, regulatory capture is not always a conscious process.
Posted in Health Care
Tagged Health Care, health care bill, health care reform, health insurance, health insurance companies, health insurance mandate, insurance, lobbyists, obama, pro-business, trillion
President Bush’s $400 billion budget deficits were the largest in history. He deserved every bit of criticism he got for his big-spending ways.
Now comes news that the budget gap is up to $1.4 trillion. President Obama has broken Bush’s record by a trillion dollars. It took him less than a year.