We have been watching the apparently intense pace of regulatory reform in the US, since the January 2011 presidential order and Congress initiatives (18 posts since 1.1.2011, see "US/CND" category). But is this reform zeal reaching its objective of simplifying the business environment and creating growth and jobs?
A recent research published by the Heritage Foundation, a conservative think tank, has studied the "regulatory production" and highlights that the Democratic Administration has produced far more rules than its Bush predecessor, though both Congress and the White House are accountable. The following conclusions are taken from the "talking points":
"1 The regulatory burden on Americans continued to increase throughout 2011, with 32 new major regulations that increase regulatory burdens imposed at a cost of almost $10 billion annually. This regulatory excess is evident in lackluster job creation and anemic economic growth.
2 During its first three years in office, the Obama Administration unleashed 106 new major regulations that increased regulatory burdens by more than $46 billion annually, five times the amount imposed by the George W. Bush Administration during its first three years.
A recent research published by the Heritage Foundation, a conservative think tank, has studied the "regulatory production" and highlights that the Democratic Administration has produced far more rules than its Bush predecessor, though both Congress and the White House are accountable. The following conclusions are taken from the "talking points":
"1 The regulatory burden on Americans continued to increase throughout 2011, with 32 new major regulations that increase regulatory burdens imposed at a cost of almost $10 billion annually. This regulatory excess is evident in lackluster job creation and anemic economic growth.
2 During its first three years in office, the Obama Administration unleashed 106 new major regulations that increased regulatory burdens by more than $46 billion annually, five times the amount imposed by the George W. Bush Administration during its first three years.
3 Hundreds more costly new regulations are in the pipeline, many of which stem from the Dodd–Frank financial regulation statute and Obama’s health care legislation.
4 President Obama’s “retrospective review” initiative, intended to rein in unnecessary rules, has yielded few meaningful results (...)"
The United States is by no means the only country where there is such a distance between political announcements and reforms made in good faith, and results on the ground. It is precisely part of the "smart regulation" approach to reduce such a gap.
4 President Obama’s “retrospective review” initiative, intended to rein in unnecessary rules, has yielded few meaningful results (...)"
The United States is by no means the only country where there is such a distance between political announcements and reforms made in good faith, and results on the ground. It is precisely part of the "smart regulation" approach to reduce such a gap.
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