Get Busy Writing Those Regulations

THE FOUNDATION

"If we can prevent the government from wasting the labors of the people, under the pretence of taking care of them, they must become happy." --Thomas Jefferson

ECONOMY

Get Busy Writing Those Regulations

In 2010, the Democrat-controlled Congress rammed through a gargantuan regulatory package known as the Dodd-Frank Wall Street Reform and Consumer Protection Act. Ostensibly, the law was a response to the 2008 financial panic -- a way for Washington to regulate the economy into financial security. As the White House put it this week, its purpose is to "prevent the type of financial harm that led to the Great Recession from ever happening again." They neglected to mention the role federal regulations had in creating the panic in the first place.

Now, Barack Obama's regulatory commissars aren't moving fast enough to finalize those regulations, and the president is insisting they pick up the pace. To date, less than 40% of the law's regulations have been finalized while 61% of the law's deadlines have been missed. So businesses face not only the crushing regulations themselves but also the uncertainty of not yet knowing what they are. Continue Reading.....