Good. Our society is way over regulated. Too many laws. Too many rules. Too much red tape. Too many bureaucrats.*
Not only is it OVER regulated, many of the regulations which burden the economy are written by cronies of various kinds (inside and outside of government) and are designed to hamper competition. The economy needs to be able to breathe to work and to create work for workers.
A more extensive assault on government regulation is likely to come. On Jan. 30, Trump signed an executive order that requires agencies to offset the cost of every significant new regulation by eliminating existing regulations or making them less onerous. The order declares that “the total incremental cost of all new regulations” issued this year “shall be no more than zero.”
That sets a far more stringent standard than recent Republican administrations have attempted, experts on regulation said, leaving a slew of Obama-era rules in limbo.
“It’s clear as can be that they intend to reduce the level of regulation,” said James Gattuso, a senior fellow in regulatory policy at the conservative Heritage Foundation, who said the directive marks the first explicit attempt to contain the costs of federal mandates.
“If successful,” Gattuso said, “it would be the first time in a generation,” since Ronald Reagan was in the White House.
*Hopefully Trump will be able to liberalize things far more than Reagan was able to . That’s what is needed.