“Regulations do have costs; often, as a country, we have to make tough decisions about whether those costs are necessary.” — President Obama, Wall Street Journal op-ed, January 18, 2011
Research says more red tape = less economic growth
In a March 2012 working paper, economists Ellen R. McGrattan and Edward C. Prescott from the Federal Reserve Bank of Minneapolis write that “there is direct evidence in higher annual costs of firms for compliance with federal regulations, rising expenditures of federal regulatory agencies, and rising employment of federal regulatory agencies” (emphasis added) demonstrating the failed economic policies of the Obama administration.
House Republicans have a Plan for America’s Job Creators—it’s time for the President and Senate Democrats to stop blocking our bipartisan jobs bills. More info in the “Win the Debate” kit—“Cutting Red Tape to Create Jobs”—can be found here.