Personal Liberty Poll
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Since the beginning of President Barack Obama’s final year in the Oval Office, his administration has increased the federal government’s regulatory burden on American citizens by nearly $150 billion.
That’s according to a new report out from the conservative American Action Forum, which details how the president is following through on his promise to create a regulatory avalanche on his way out of office.
Federal agencies have finalized new rules costing Americans $106 billion. An additional $40 billion in regulatory costs is expected to come from future rules.
The costliest new rules are related to the Department of Energy (new efficiency standards for freezers), the Centers for Medicare and Medicaid Services (emergency preparedness), Obamacare and Dodd-Frank.
Here’s a breakdown of how regulations affect the U.S. economy overall:
So far, Obama’s ambitious regulatory agenda is costing around $452 per person in the U.S.
And it doesn’t appear as though the president is poised to let up any time soon.
Of the new regulations, the administration finalized 78 and proposed an additional 39 new regulations just last week. Those moves burdened taxpayers with an additional $1.3 billion in regulatory costs.
But it isn’t just money that the Obama administration is bleeding from U.S. businesses and employees with its new regulations— it’s also burdening the economy with millions of hours’ worth of new paperwork obligations.
Unfortunately for fiscal conservatives, there’s likely little the GOP-controlled Congress can do to stop Obama’s “midnight regulations” as he prepares to leave office.
A McClatchy report yesterday quoted Senate Majority Whip John Cornyn of Texas noting that “the framers of the Constitution didn’t give us a lot of tools that didn’t involve a presidential signature to overturn” Obama’s lame-duck regulations.
“To my mind, he’s doing a lot of damage that’s going to take a lot of time and effort to repair. I do expect more. That’s been his M.O.,” Cornyn said.