The Other Cliff

The cliff we all hear about is the fiscal cliff: the upcoming expiration of the Bush tax cuts and the simultaneous slashing of government spending.  But there is another cliff that Obama has created: the regulatory cliff-the likelihood of a vast expansion of regulations that will throttle growth and slash jobs if Obama wins a second term. Jim McTague writes in Barron's: A pending "regulatory cliff" also is contributing to dizzying uncertainty that has put the brakes on major investment decisions and, consequently, hiring... The CEOs are keeping the other wary eye glued to the Federal Register, where final rules from government departments and agencies are announced and published after passing through the bureaucratic pipeline. Post-election, the Environmental Protection Agency alone could wreak havoc on the economy with a flood of new mandates that will cost businesses hundreds of billions of dollars. According to Bill Kovacs, senior vice president for the environment,...(Read Full Post)