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August 29, 2011
You call this 'regulatory reform'?
Professor Cass Sunstein has announced the first results of the regulatory review the President ordered at the beginning of the year. Sunstein is the regulatory czar to the czar of all the czars -- his former University of Chicago law school colleague Barack Obama. All federal regulatory bodies were to eliminate regulations that were unduly burdensome to small businesses. Private sector critics promptly called the reforms a drop in the bucket. Republicans in Congress have several legislative proposals to alleviate the federal regulatory burden on small business. However, all this begs a deeper question: why is the national government regulating small businesses in the first place? Let us quickly try to quantify the size of Professor Sunstein and Obama's drop in the bucket. Sunstein claims that the reforms could save businesses over $10 billion in compliance costs over the next five years. The Small Business...(Read Full Post)