Rep. Scott Desjarlais (TN)
The Obama Administration has set records for new pages of federal regulations, issuing more “midnight” regulations during the President’s last days in office – the lame-duck period after November’s election – than any other. The conservative American Action Forum describes 31 new regulations as “economically significant,” costing at least $100 million annually.
The burden falls heaviest on small businesses, costing each an estimated $30,000 per employee, and the economy as a whole $2 trillion every year. As a result of regulations such as Obamacare, small businesses are disappearing and jobs along with them. The labor force participation rate is at a generational low, and the real unemployment rate may be as high as 10 percent, taking into account Americans who have given up looking for work or stuck in part-time jobs.
Read more: Daily Caller
