In his 2012 State of the Union speech, Obama claimed that "I've approved fewer regulations in the first three years of my presidency than my Republican predecessor did in his." Now what impression does a claim like that make? It conveys the impression that Obama, at the very least, is wary of increasing regulations. It conveys the impression that he realizes that regulations, however well intentioned, come at a cost. It conveys the impression that he is, directly or indirectly, aware of various studies to the effect that the regulatory cost per employee for small businesses is ~ $10,585, compared to $7,454 for medium firms and $7,755 for large firms. It conveys the impression that he is aware that it has been estimated that regulations drain 1.75 trillion out of the U.S. economy yearly. In other words it conveys the impression that he understands that well intentioned regulations, which often come spewing out government agencies after the latest crisis from oil spills to banking...(Read Full Post)