Here’s an idea for you, especially if you’re planning a trip to the beach or the mountains this summer. Go outside one clear evening and look up into the sky at the over 22 billion stars that make up the Milky Way Galaxy – stargazing is always peaceful (and romantic!) so you’re sure to enjoy it. Here’s another idea for you, while you’re enjoying the stars, attach a dollar sign to each and begin counting all 22 billion stars. If you arrive at 22 billion you will have arrived at the amount of money in new regulatory costs the Obama administration passed into law just last year.
That’s right! According to a new Heritage Foundation study, the amount of money in new regulatory costs last year equals the number of stars in the Milky Way Galaxy.
We think that’s a crazy statistic in and of itself, but the effects that the Obama administration’s 20,642 new regulations are having on South Carolinians and their businesses is detrimental and unacceptable. Representative Doug Lamborn, a Republican from Colorado, recently wrote about the consequences of this regulatory juggernaut in his article “As Government Regulations Grow, Business Opportunities Shrink,” arguing:
“The sheer cost of these regulations take a toll on the American economy. Businesses cannot be expected to thrive and expand in an economic climate that is plagued by doubt and uncertainty. But beyond the monetary impact of the Obama’s administrative agenda, the heavy-handed regulations themselves also stunt business growth.
I know that in order for our businesses to succeed, a lighter and more predictable regulatory regiment is needed. We don’t have that today. Top-down obtrusive regulations squelch the potential of many entrepreneurs and their endeavors.
Businesses not only need certitude in the federal government’s regulatory schemes, they need advance notice of regulations coming down the pipeline so they can adequately prepare for the impacts.
Too often the Obama administration will hastily release a regulation, not give those affected by the regulation ample time to prepare, and then expect businesses to pick up the pieces when complications inevitably arise.”
So what is the solution to this top-down obtrusive regulatory state? Returning dollars and decisions back to citizens and the governments closest to them…in other words, competitive federalism! 20,642 new regulations cannot help but quash business opportunities in South Carolina. This is just one more unfortunate accounting of of how large, cumbersome, and intrusive the federal government has become.
We at the Palmetto Promise Institute will continue to be strong advocates for empowering the states over the federal government. We hope our friends in Washington will do themselves a favor and off-load some of their responsibilities to states that are ready and willing to govern, and govern more effectively.