The Five Most Catastrophic Hidden Costs of the Obama Presidency
3. Obama’s federal regulations, growing like kudzu in uncontrolled, maniacal frenzy, form a stranglehold on American business.
Once again, we turn to Investor's Business Daily for the heavy-lifting on Obama’s wretched big government stranglehold. From John Merline’s detailed IBD article last week, we learn that one of the very few “businesses” actually booming in Obamaland is the “Regulation” industry, which has seen its combined budgets grow by a whopping 16% since 2008. This meteoric rise in regulatory budgets coincided with a pitiful increase of only 5% in overall economic growth.
Employment at these regulatory government behemoths has grown a staggering 13%, while private-sector jobs shrank by 5.6%.
Merline puts this picture into pitch-perfect perspective for even economics-challenged citizens like me:
If the federal government's regulatory operation were a business, it would be one of the 50 biggest in the country in terms of revenues, and the third largest in terms of employees, with more people working for it than McDonald's, Ford, Disney and Boeing combined.
The obvious take-away from this profoundly disturbing reality is that while McDonald’s, Ford, Disney, and Boeing create real products/services for real people, and have the added advantage of self-sufficiency as opposed to being supported by taxpayers, the federal regulatory “do it like this” pencil-pushers actually cost us not only their bloated salaries and benefits but also cost the businesses they regulate billions more to ensure “compliance.” Every dollar spent by business to follow federal busybodies’ new rules is a dollar passed on to consumers.
In Obama’s America, big government is running its own protection racket aimed at consumers and taxpayers. They play; we pay.