This week marks the publication of the 20th anniversary edition of the Competitive Enterprise Institute’s annual survey of the federal regulatory state, Ten Thousand Commandments. The report takes a big-picture look at the cost and scope of federal regulations. Among other eye-popping numbers, this year’s edition estimates the total federal regulatory burden at $1.8 trillion per year and growing --- the first time ever that the cost of regulation has exceeded half the size of the federal budget.
Wayne Crews and Ryan Young | All Articles
Paul Ryan's just-released budget proposal, the Path to Prosperity, would balance the budget in 2023. This would certainly be an improvement over President Bush's then-record $400 billion deficits, not to mention his successor's trillion-dollar overruns. Better still, it accomplishes this without tax increases. But we argue that Rep. Ryan has his eyes on the wrong prize.
Every spring and fall, as certain as the turning of the seasons, the General Services Administration’s Regulatory Information Service Center (RISC) issues a new edition of the Unified Agenda of Federal Regulatory and Deregulatory Actions. Or it did, until this year. Published in the Federal Register around April and October of every year, the Unified Agenda is one of the more important transparency measures we have for keeping an eye on federal regulations (available online at RegInfo.gov). In it, rulemaking agencies disclose what rules they have at various stages of the regulatory pipeline, along with rules likely to move in the near future.
After running up more than $3 trillion in debt in just two years, the federal government is looking for new ways to raise money. Promised future entitlement spending in the tens of trillions of dollars has put the government’s AAA bond rating in jeopardy, so borrowing all that money could be an expensive proposition. That means a tax hike is coming.