The Latest in Morning Buzz

A Nearly $2 Trillion Weight

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Good morning, friends, and welcome to Tuesday! Unfurl your stars and stripes on this Flag Day!

Our friends at the American Action Forum track new regulations in their Regulations Rodeo. You can search and compile regulations by year, agency, industry, topic, and cost. Take it for a spin here.

We ran the numbers since President Obama took office in 2009: 2,781 regulations have been finalized, resulting in a cost of nearly $800 billion and over 500 million paperwork hours.

Through nearly six months this year, the Obama administration has finalized 157 regulations, including the burdensome fiduciary rule which would make it harder for working- and middle-class Americans to prepare and save for retirement. The finalized regulations thus far for 2016 have a total finalized cost of $86.5 billion and will consume nearly 46 million paperwork hours.

Our friends at the Competitive Enterprise Institute report that federal regulations cost American consumers and businesses about $1.88 trillion in 2014 and nearly $1.89 trillion in 2015.

There is no doubt that some regulations are necessary and critical, especially those that protect our health and safety.

Too often, however, Washington-based bureaucrats impose onerous, unnecessary regulations that stifle economic growth, increase costs for America’s families, and burden business owners with complex compliance when they could be growing their businesses and creating jobs.

This afternoon, we’ll tune in as House Republicans unveil their plan for a better way to grow our economy, and we look forward to learning more about their proposals for regulatory relief.