Last fall, President Obama decided to cancel a hugely expensive new EPA rule designed to cut smog levels across the country. Obama said he did so out of concern about the rule’s impact on jobs.
It was just one of many costly regulations the Obama administration has put on hold or delayed in the run-up to the election, as the president tried to dispel the impression that he’s anti-business.
“I have continued to underscore the importance of reducing regulatory burdens and regulatory uncertainty,” Obama said when he put the brakes the smog standard, “particularly as our economy continues to recover.”
But if Obama wins re-election, all these postponed rules, along with a host of other costly regulations, will likely hit the economic shores.
Using official government sources, the National Federation of Independent Business calculates that there are more than 4,000 federal rules in the pipeline, and that just the 13 biggest ones would, if imposed in an Obama second term, cost businesses a total of more than $515 billion over four years.
Read More at investors.com. By John Merline.
Source: Western Journalism
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