Washington’s current trajectory of regulatory and monetary policies has crimped economic growth and widened the gap between rich and poor. While hidden, the costs of federal government regulations are now estimated at about $1.9 trillion annually - more than 11% of GDP and more than 50% of federal government spending. Which is to say that the real cost of the U.S. federal government is half again as much of the $3.6 trillion it actually spends, or almost a third of the nation’s $17 trillion GDP. ... The enormous hidden costs of regulation have been studied by John W. Dawson and John J. Seater in the Journal of Economic Growth. Their examination of the escalation of regulations, as documented in Federal Register since 1949, suggests that economic growth in the U.S. may have been reduced by as much as 2% annually. Without that drag, the U.S. could be producing over $50 trillion in goods and services instead of its current $17 trillion, and average household monthly income could be four to six times its current $4,400... ~ Scott Powell Blessings... ~ Derek
Posted on: Wed, 22 Oct 2014 15:32:49 +0000
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