The tide of red tape that threatens to drown U.S. consumers and businesses surged yet again in 2015, according to a Heritage Foundation study we released on Monday.
More than $22 billion per year in new regulatory costs were imposed on Americans last year, pushing the total burden for the Obama years to exceed $100 billion annually.
That’s a dollar for every star in the galaxy, or one for every second in 32 years.
The consequences of this rampant rulemaking are widespread:
• Restricted access to credit under the hundreds of rules unleashed by the Dodd–Frank financial regulation statute
• Fewer health care choices and higher medical costs from the Affordable Care Act
• Reduced Internet investment and innovation under the network neutrality rules dictated by the Federal Communications Commission