Obama parting gift: $3K cost per person because of regulations
And you all thought Obama would just leave without one last “up yours” to his peons. Think again. This time it’s $3,000 per person cost of government regulations, most of which was incurred during his time in office. And guess which government bureaucratic agency was the one to shove us over the $1 trillion cost in 10 years: no, not the IRS as many would guess.
But it’s the notorious agency conservatives love to hate the most: the EPA.
Since pictures are easier to understand than words, here’s a great one courtesy of American Action Forum. Click to enlarge:
That’s right. The cost of regulations over the last 10 years is $3,080 per person. We aren’t sure if all the illegals are counted in this though…
EPA’s formal publication of its second round of heavy truck standards is the culprit, according to Sam Batkins of the American Action Forum. Called the Corporate Average Fuel Efficiency or CAFE, these new “standards” will impose burdens of at least $29.3 billion for medium- and heavy-duty vehicles manufactured from 2018 to 2027.
Batkins went back to 2005 for his study, and says Obama is to blame for 3/4 of these costs.
But it’s not surprising the EPA has been the main culprit in expensive and burdensome regulations gone wild during Obama’s eight years:
- CAFE standards for 2016-17 vehicles
- Mercury air toxic standards
- Fine particle implementation rules
- Standards for particulate matter
- Clean Power Plan
The above five regulations cost $191 billion in total.
The $3,080 payments could come in a variety of ways, from increased taxes to fewer jobs.
This is just one more item Obama rammed through during the lame duck session, and don’t look for it to be his last.
On the bright side, president-elect Trump has vowed to stamp out two regulations for every one created. Let’s hope he’s true to his word.