The Regulatory Cliff
After three years of bureaucratic excess, the Obama administration has been quietly postponing several multibillion-dollar regulations until after the November election. Those delayed rules, together with more than 130 unfinished mandates under the 2010 Dodd-Frank financial law, could significantly increase the regulatory drag on our economy in 2013.
See our previous post on how public policy uncertainty is producing jobless recovery.
Dr. Goodman, Paul Krugman needs to read your blog. The optimist in me believes that even the “brightest” who hold opposing views can be recruited to understand common sense. Then again, maybe not.
This election is a big deal. The upcoming fiscal cliff is a government spending cut that amounts to 4% of GDP. If the fiscal and regulatory cliffs aren’t dealt with the US will find it next to impossible to climb back out.
Why not postpone these costly regulations indefinitely!
Very interesting post. Just another way this adminsitration is hurting our economy. Hopefully Obama supporters have found this and many other facts, enough reason to watch who they vote for.
I’d say that an entire political party campaigning on overturning a new law creates a whole bunch of uncertainty, wouldn’t you?
It’s just like he told Dimitri Medvedev. He needs to get re-elected first, then will come the real change.
I think we are going off the fiscal cliff sooner than most people realize.