From our friend Alfred Centauri over at the Daily Pundit comes some information that has hit me like a slap in the face. I’m still digesting it. Here’s a sample:
• Estimated [federal] regulatory costs, while “off budget,” are equivalent to over 48% the level of federal spending itself.
• The 2011 Federal Register finished at 81,247 pages, just shy of 2010’s all-time record-high 81,405 pages.
• Regulatory compliance costs dwarf corporate income taxes of $198 billion, and exceed individual income taxes and even pre-tax corporate profits.
Wow. Yes, sensible regulation is useful, but we seem to have taken complete leave of our senses, because we have chosen to remain blind to an obvious tendency of government:
Agencies face overwhelming incentives to expand their turf by regulating even in the absence of demonstrated need, because the primary measure of agency productivity is the number of regulations they produce. (Competitive Enterprise Institute Report, “Ten Thousand Commandments of 2012)
Thanks, Alfred. I think.