Bloomberg is debunking the right wing, flagrant lie that regulations have been outlandish under the Obama administration.
This is one of the many boogeymen in the conservative closet that continuously comes out and is essentially a lie, one big, fat lie being told to the American people.
In the Bloomberg article it states, “Obama’s White House has approved fewer regulations than his predecessor George W. Bush at this same point in their tenures, and the estimated costs of those rules haven’t reached the annual peak set in fiscal 1992 under Bush’s father, according to government data reviewed by Bloomberg News…The average annual cost to businesses under Obama is higher than under his predecessors, the Bloomberg review shows. The increase is estimated to total as little as $100 million or as much as $4.1 billion or at most three one-hundredths of a percent of the total economy.”
3/100ths of a percent is killing the economy? This correlates to another conservative claim that Obama Care is also killing business, even though the one industry that has added tens of thousands of jobs has been the healthcare industry as I reported on my PoliticusUSA article.
Bruce Bartlett, a former policy adviser under President Ronald Reagan, found that businesses are just as concerned today about regulations as they were under Reagan. He stated,
“While concerns about regulation have risen during the Obama administration, they are about the same now as they were during Ronald Reagan’s administration, according to an analysis of the federation’s data by the Economic Policy Institute.”
Even the conservative Heritage Foundation, stated “The spigot turned on in the second half of 2009, but since then they have not gone at the same rate.”
On a global scale, the U.S. is one of the best places to do business, with rules allowing new businesses to be set up in just six days and strong protections for investors, according to a World Bank report released October 19.
These are the lies that conservatives continue to throw out like a piece of limp, wet, spaghetti to see if it sticks. Unfortunately for the rest of us, it has and the reason is the absolute laziness of the so called liberal media not asking the tough questions.
Image: A Better World