U.S. Regulatory Costs Are World's No. 10 Economy
After years of rapid growth during the Obama administration, the cost of federal regulations is now bigger than the entire economies of all but nine countries in the world. That’s according to the latest annual report on the regulatory state issued by the free-market Competitive Enterprise Institute, titled “Ten Thousand Commandments.”
Compiling reports of compliance costs from various government agencies and outside sources, author Clyde Wayne Crews found that the “regulation tax” imposed on the economy now tops $1.86 trillion.