Kerpen on CBN: Regulations Crippling US Economy with Hidden Costs
And those regulations cost the entire nation $1.75 trillion a year, almost double what Americans pay in income taxes each year.
Author Phil Kerpen looks at how such regulation is crippling the economy, in his book, Democracy Denied: How Obama is Ingnoring You and Bypassing Congress to Radically Transform America.
“It’s just not that our tax dollars are wasted paying for these bureaucracies, it’s that the bureaucrats in these bureaucracies are causing an awful lot of mischief,” Kerpen said.
Leslie Paige, media director for Citizens Against Government Waste, said it’s easy to measure how much the federal government spends, but the more hidden cost is what damage all those government regulators do.
“Smothering businesses, making it very difficult for anyone to do anything in this country. And they have grown like kudzu,” she explained.
Kerpen said the Phoenix Center, a think tank in Washington, D.C., has put exact numbers to the economic damage.
“They found that each federal regulator destroys an average of 98 private sector jobs per year,” he said.
And each federal regulator wipes out about $6.2 million in economic output each year.
“So when you talk about spending, it’s often far more costly than just what we spend on the budgets of these agencies because of the reach they have into the private economy and the negative impact that they have,” Kerpen explained.