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  • Cost of Federal Regulation is Equivalent to 1 Million Jobs

    7/26/2012 12:35:10 PM Posted by Ron Meyer
    By Ron Meyer, Young America's Foundation Spokesman
    Everyone in Washington claims they want to be "creating jobs," yet no one in Washington will get Washington out of the way.
    YAF alumna Celia Bigelow points out in CNS News that federal regulation costs businesses approximately $46 billion dollars. The average American salary is around $40,000. So, the cost of federal regulation costs the same as employing more than 1 million Americans

    Considering thereare 2.7 million less jobs available for young people since 2008, cutting much of this federal regulation would be a great first step to a real recovery.

    Here's an excerpt from Bigelow's piece:

    The amount of major business regulations that the Obama Administration created in its first three years outnumbers those created by Bush 4:1. 106 new major regulations were created by the Obama Administration that cost businesses $46 billion annually. The Bush Administration created 28 new major regulations in its first three years that cost businesses $8.1 billion—nearly 5 times less.
    If the government eliminated all regulations on businesses, the economy would see immediate job creation. It is simple: everything held constant, if you take the $46 billion annual regulation costs and divide it by a salary of $40,000—an amount that many of the 12.7 million unemployed citizens would gladly accept—it would equal more than one million jobs.

    Read the full op-ed: *CNS News*
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