Obama’s Mythical Regulatory Nightmare

You know all that talk from conservatives that Obama has put such onerous rules and regulations on business that they simply can’t create any jobs for fear of falling victim to his socialist interference? Yeah, not so much. Turns out he’s approved fewer regulations than W had at this point.

Obama’s White House has approved fewer regulations than his predecessor George W. Bush at this same point in their tenures, and the estimated costs of those rules haven’t reached the annual peak set in fiscal 1992 under Bush’s father, according to government data reviewed by Bloomberg News.

The average annual cost to businesses under Obama is higher than under his predecessors, the Bloomberg review shows. The increase is estimated to total as little as $100 million or as much as $4.1 billion, or at most three one-hundredths of a percent of the total economy…

Obama’s White House approved 613 federal rules during the first 33 months of his term, 4.7 percent fewer than the 643 cleared by President George W. Bush’s administration in the same time frame, according to an Office of Management and Budget statistical database reviewed by Bloomberg.

The number of significant federal rules, defined as those costing more than $100 million, has gone up under Obama, with 129 approved so far, compared with 90 for Bush, 115 for President Bill Clinton and 127 for the first President Bush over the same period in their first terms. In part that’s because $100 million in past years was worth more than it is now due to inflation, Livermore said.

Wow, three one-hundredths of a percent. Clearly the cause of the recession he inherited.

9 comments on this post.
  1. Pierce R. Butler:

    The increase is estimated to total as little as $100 million or as much as $4.1 billion…

    So the margin of error comes out about 4,100 percent?

    And some people still call economics a science…

  2. Michael Heath:

    I’ve always assumed that Republicans create a deregulatory nightmare which requires prudent clean-up when a Democrat is president. Therefore I’m perturbed that President Obama’s Administration has been so apparently lax in cleaning up the mess I’m confident his predecessor made.

  3. gshelley:

    I think in Wingnut World, Bush’s regulations were generally useful, and he finished the job, introducing all the possible beneficial ones, so anyone who is Obama who comes along afterwards and adds more, is just adding unnecessary red tape that is harmful to business and probably part of a plot to destroy the free market economy and pave the way for the socialist state.

  4. Chiroptera:

    Wait, what? I thought that there were no new jobs because businesses were supposed to boycott the Obama Administration by refusing to hire new people.

  5. pinkboi:

    This should also shatter the myth that Bush was some sort of free market type.

  6. Area Man:

    The number of significant federal rules, defined as those costing more than $100 million, has gone up under Obama, with 129 approved so far, compared with 90 for Bush, 115 for President Bill Clinton and 127 for the first President Bush over the same period in their first terms.

    It’s worth pointing out that “significant federal rules” are defined as those that have an estimated $100 million impact in terms of costs, benefits, or both. That number tells you nothing about whether there are net costs or net benefits.

    So not only are the number of significant rules not that different than for past administrations, it’s entirely possible (and I would put good money on it) that the net cost of rules under Obama is vastly less than those under Bush. The right-wing agenda is to privatize profits and socialize costs, in which case you’re not concerned with the costs foisted on the public, only the benefits reaped by the business elite.

  7. laurentweppe:

    Let’s try a little wingnut “logic” and see how they could adapt to the input of new information:

    Early in his administrationn Obama told financiers that his administration was the only thing between them that his administration was the only thing between them and the pitchforks.

    This clearly proves that Obama was lusting for a bloodbath and eagerly waiting for his mindless hordes of hipsters and wellfare queens to overwhelm the heroic and morally spotless police and plunder Wall Street and Zuccotti park.

    His non-regulatory policies were merelly part of his devious plot, meant only to increase his minions rages before using his instruments: facebook and twitter, to canalyse their mindless rage against hapless job creators.

    In fact, the so called Arab-spring was merely a rehersal: soon, thousands of poor, innocents members of the upper-class will be slaughtered by bombing done by french planes brought here by NATO, like they did in Libya.

    This is the only explanation possible. Otherwise, that would mean that Obama is a politician aware of the likely consequences or the current economical clusterfuck who tried to convince financiers to do the right thing by rationaly appealing to their self-preservation instinct, and we all know that kenyan anti-colonial secularislamist bolsheviks like Obama are congenially unable to act that way. Holocaust by french plane IS the destiny of our poor, poor, poor job creators: Woe is America

  8. lanir:

    The Invisible Pink Regulatory Nightmare disapproves of your use of the Logic Card.

    Any system where of evaluation where “who said it” and “did I like hearing it” substantially outweigh “is it true” is a faith system and not a logic system. No amount of logic or truth can overcome the faith of a true believer and within the faith group this is considered a high virtue.

  9. laurentweppe:

    The Invisible Pink Regulatory Nightmare disapproves of your use of the Logic Card.

    Then allow me to invoke the ShutUpImSmarterThanU Joker: My wingnutian pseudo-logic being way more convoluted than necessary when it comes to statements of faith, it is of the utmost usefullness (I do not know if it’s grammatically correct, nor do I care) when it comes to confuse the dirty hippies because it create the illusion that I am actually able and willing to exert a huge intellectual effort before reaching my hate-based conclusions.

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