Cost of Obama regs comes in 20 times higher than White House estimates
“Current federal regulations plus those coming under Obamacare will cost American taxpayers and businesses $1.8 trillion annually, more than twenty times the $88 billion the administration estimates, according to a new roundup provided to Secrets from the libertarian Competitive Enterprise Institute,” The Washington Examiner‘s Paul Bedard reports.
But CEI vice president Clyde Wayne Crews added, “according to back of the envelope surveys and roundups, with gaps big enough to fit the beltway through, that up to $1.806 trillion annually and in many categories perhaps even considerably more, is a defensible assessment of the annual impact on the economy.”
Below are some of the estimates from the CEI report:
- A Baseline for Aggregate Annual Economic Regulation Costs: $373 Billion.
- A Baseline for Aggregate Annual Social Regulation Costs: $406 Billion.
- Additional Executive Agency Major Rule Costs Presented by OMB (But Not Tallied): $22.3 Billion.
- Independent Agencies’ Annual Regulatory Costs: $4.58 Billion.
- Other Independent Agency Paperwork Costs: $21.56 Billion.
- Dep’t of Agriculture: $9.05b
- Dep’t of Commerce: $1.801b
- Dep’t of Education: $3.032b
- Dep’t of Energy: $9.089b
- Dep’t of Health & Human Services: $184.805b
- Dep’t of Homeland Security: $55.331b
- Dep’t of Housing & Urban Development: $1.827b
- Dep’t of the Interior: $5.321b
- Dep’t of Justice: $1.253b
- Dep’t of Labor: $121.987b
- Dep’t of Transportation: $64.226b
- Dep’t of the Treasury: $$1.32b
- Environmental Protection Agency: $352.997b
- U.S. Access Board (ATBCB): $851mil.
- Federal Acquisition Regulation: $1.356b
- Independent Agency and Certain Sectoral Regulatory Costs Antitrust: $2.34b
- Federal Communications Commission: $141.58b
- Financial Services: $102.46b
- Federal Energy Regulatory Commission (paperwork): $336mil.
- Federal Trade Commission (paperwork): $2.85b
- Consumer Product Safety Commission: $193mil.
- EEOC: $122mil.
- Nuclear Regulatory Commission, plus paperwork: $414mil.
- E-gov (paperwork): $380mil.
- NASA (paperwork): $107mil.
- Nat’l Science Foundation (paperwork): $231mil.
- Small Business Admin (paperwork): $43mil.
- Social Security Admin (paperwork): $1.06b.
- Privacy Regulation: $1b.
- Immigration Restrictions: $12b
