With all the talk about taxes and healthcare, don't take your eyes off the push for increased regulation.
One of the consistent talking points in Washington is that much of our economic woes stem from under-regulation of business.
The 31st annual Regulators' Budget Report published by Washington University in St. Louis and George Mason University analyzes the U.S. budget for fiscal year 2009 and 2010 and focuses on the growth in federal regulatory spending and staffing as it continues in the new administration. The authors, Veronique de Rugy and Melinda Warren, also focus on trends from the Bush Administration, concluding that there was a 26 percent increase in regulatory spending during this period, and debunking the myth that lack of regulation caused the financial crisis.
The push to add even more regulation on top of the dramatic increase in regulation under Bush will be yet another inhibiting factor working against entrepreneurial growth in the U.S.
One of the consistent talking points in Washington is that much of our economic woes stem from under-regulation of business.
The 31st annual Regulators' Budget Report published by Washington University in St. Louis and George Mason University analyzes the U.S. budget for fiscal year 2009 and 2010 and focuses on the growth in federal regulatory spending and staffing as it continues in the new administration. The authors, Veronique de Rugy and Melinda Warren, also focus on trends from the Bush Administration, concluding that there was a 26 percent increase in regulatory spending during this period, and debunking the myth that lack of regulation caused the financial crisis.
The push to add even more regulation on top of the dramatic increase in regulation under Bush will be yet another inhibiting factor working against entrepreneurial growth in the U.S.
This doesn't surprise me. As a former owner of a surgical instrument company, I was more concerned with the myriad of regulations than about my competitors. I never felt threatened, but always wondered if I had covered all my regulatory bases. The FDA walked in our door as they pleased and were there to find something wrong. Beside the cost of government regulation, I can assume the loss of business productivity was even more.
Kip Marlow
President
The Entrepreneurs Club of America
With a back ground in accouting, I think regulation and consistancy is key to success. My question is - does the government know what to regulate? They might want to start looking inward and regulate these big programs they are funding. They lost track of TARP spending in the first 2 weeks - if the government was held to a standard would this have happened? We are talking trillions of dollars. Drop some of the regulations on small businesses so they can do their jobs but turn around and regulate medicare and many other government run programs. Maybe the govt. wouldn't be paying out millions in fraudulent claims. AND hurry before we have a public healthcare option!